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ElwoodBlues · M
Large scale tariffs have been tried and they don't work.
Students of American history might recall the name "Smoot Hawley." No, not an MLB pitcher, a tariff act.
Students of American history might recall the name "Smoot Hawley." No, not an MLB pitcher, a tariff act.
The Smoot-Hawley Tariff Act of 1930, which raised tariffs on imports, led to a significant decrease in international trade and is widely considered to have worsened the Great Depression by prompting retaliatory tariffs from other countries.