The Smoot-Hawley Tariff Act | On This Day

June 17, 1930, U.S. President Herbert Hoover signing into law the Smoot-Hawley Tariff Act, one of the most controversial trade policies in world history. The legislation increased tariffs on roughly 40% of the goods coming into the U.S., as much as 59% extra import taxes that ostensibly were intended to protect U.S. jobs.
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