Moreover, the experience of other periods of American history demonstrates that protectionist measures are not an effective means of promoting the diffusion of technology in a more developed economy. The detrimental economic effects associated with the passage of the Smoot-Hawley tariffs in 1930 provide one important example.
And, in the post-World War II period, the relaxation of trade restrictions opened up important foreign markets to the new products being developed by U.S. corporations. More generally, the United States has, over time, consistently and successfully responded to competitive pressures from abroad, often through technological innovations that create new markets and opportunities.