Answer
The Hawley-Smoot Tariff Act resulted in several key outcomes: increased tariffs imposed by countries worldwide in reaction to the U.S., initial but limited benefits for domestic industries that thrived briefly due to the new tariffs, and a dramatic reduction of nearly 66% in trade between the United States and Britain. This act, being the highest tariff in U.S. history, did not facilitate a rise in trade nor did it aid countries like Germany and Austria in stabilizing their economies. Instead, it exacerbated the Great Depression by significantly hindering international trade and worsening the global economy.
Related Questions
- Do companies report individuals to credit agencies for failing to pay their bills on time, borrowing
- Provide two reasons why people are hesitant to report corruption.
- What were the outcomes of the passage of the Hawley-Smoot Tariff Act? Please check all that apply: 1
- What is likely to happen to the price of the old mobile phone model after the introduction of a new,
- Which of the following statements describe the postwar relationship between the United States and Ja
- Which statement about how mass media have changed over time is the most accurate? A. Once the web be
- Which ideas or situations align with the concept of free enterprise? Please check all that apply.
- Which statement best describes how an investor makes money from debt? Is it by issuing bonds, earnin
- The Davis family grows organic vegetables to sell at a local farmer’s market. Which factors directly
- What is prohibited in a command economy? CHECK ALL THAT APPLY. 1. Control of prices and income level