FRAME STUDIO / Getty Images The Smoot-Hawley Tariff Act of 1930 raised U.S. import duties with the goal of protecting American farmers and businesses from foreign competition. The Smoot-Hawley ...

Within months of the stock market crash, Hoover signed into law the Smoot-Hawley Tariff Act, a 1930 measure that increased tariffs for a broad swathe of imported goods. In response, several ...

Herbert Hoover signed the retaliatory Smoot-Hawley Tariff Act of 1930, and it only made the Great Depression worse. Mark Benedict Barry Library of Congress Protectionism doesn’t work ...

Because of the tariffs, duties rose so that countries could no longer sell goods to the U.S. and that led to retaliatory tariffs; two dozen countries implemented them. We then saw more bank failures.