Marc Schulman

 


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Hawley-Smoot Tariff

Roosevelt in Kansas

The Hawley-Smoot Tariff raised tariffs to their highest levels in US history. Its proponents, including President Hoover, believed that the high tariffs would help American industry and agriculture in a time of severe depression. In fact, the opposite occurred. As the United States was a net exporter of both agricultural goods and industrial products, the ensuing worldwide tariff war simply lengthened the depression.