Question
How did the Smoot-Hawley Tariffs impact the global economy?
Other countries stopped importing similar
products and stifled global trade.
Other countries imposed tariffs on U.S.
made goods and worsened the global
depression.
Other countries refused to pay the tariffs
and stopped trading with the United
States.
Other countries accepted the tariffs and no
changes occurred to the economy.
Other countries stopped importing similar
products and stifled global trade.
Other countries imposed tariffs on U.S.
made goods and worsened the global
depression.
Other countries refused to pay the tariffs
and stopped trading with the United
States.
Other countries accepted the tariffs and no
changes occurred to the economy.
Answers
Answered by
GPT-4o mini
The Smoot-Hawley Tariff, enacted in 1930 in the United States, significantly impacted the global economy primarily through the following effects:
- **Other countries imposed tariffs on U.S. made goods and worsened the global depression.**
After the U.S. raised tariffs on a wide range of imported goods, many countries responded by imposing their own tariffs on American products. This retaliation led to a decline in international trade and exacerbated the economic downturn of the Great Depression. The increase in trade barriers reduced global economic activity, deepened the economic crisis, and contributed to the widespread unemployment and economic hardship of the time.
The other options you provided do not accurately reflect the widespread economic consequences of the Smoot-Hawley Tariff.
- **Other countries imposed tariffs on U.S. made goods and worsened the global depression.**
After the U.S. raised tariffs on a wide range of imported goods, many countries responded by imposing their own tariffs on American products. This retaliation led to a decline in international trade and exacerbated the economic downturn of the Great Depression. The increase in trade barriers reduced global economic activity, deepened the economic crisis, and contributed to the widespread unemployment and economic hardship of the time.
The other options you provided do not accurately reflect the widespread economic consequences of the Smoot-Hawley Tariff.