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The Smoot-Hawley Tariff Act of 1930 aimed to protect American industries but led to a decrease in international trade and worsened the Great Depression.
The Smoot-Hawley Tariff Act of 1930 dramatically raised tariffs on products imported into the United States, aiming to protect American industries and farmers by limiting foreign imports.
However, instead of protecting American farmers, the act backfired, as it led to retaliatory actions by other countries, resulting in a significant decrease in international trade, worsening the economic crisis during the Great Depression.
This act exemplifies the unintended consequences of protectionist trade policies and the interconnected nature of the global economy.
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