Supported by two Republicans - a senator from Utah and a congressman from Oregon - in reality it only affected around 3% of the GDP but it caused a number of European nations to protect their own markets by adopting similar measures.
Supported by two Republicans - a senator from Utah and a congressman from Oregon - in reality it only affected around 3% of the GDP but it caused a number of European nations to protect their own markets by adopting similar measures. Despite the fact that it was signed by President Hoover in June 1930, this act has often been blamed for certain events that happened nearly a year earlier. FTP, identify this tariff that elevated taxes on imports to around 60%, believed by many to be a cause of the Great Depression.
Supported by two Republicans - a senator from Utah and a congressman from Oregon - in reality it only affected around 3% of the GDP but it caused a number of European nations to protect their own markets by adopting similar measures.
{Smoot-Hawley }Tariff