Responses
raising the prices of imported goods, initiating a trade war between the United States and Europe and making the Great Depression worse.
raising the prices of imported goods, initiating a trade war between the United States and Europe and making the Great Depression worse.
instantly ending the Great Depression by reducing the supply of manufactured goods and stabilizing prices.
instantly ending the Great Depression by reducing the supply of manufactured goods and stabilizing prices.
decreasing prices on American goods exported to Europe, leading to an unbalanced global economy.
decreasing prices on American goods exported to Europe, leading to an unbalanced global economy.
stabilizing the U.S. economy by protecting American businesses from foreign competition.
1 answer
The correct response is:
raising the prices of imported goods, initiating a trade war between the United States and Europe and making the Great Depression worse.
The Smoot-Hawley Tariff, enacted in 1930, raised tariffs on a wide range of imported goods with the goal of protecting American industries. However, it led to retaliatory tariffs from other countries, significantly decreasing international trade and exacerbating the economic downturn during the Great Depression.
