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Editorials & Other Articles

twodogsbarking

(17,923 posts)

8. History repeating itsefl again again.

Reply to riversedge (Original post)

Wed Feb 4, 2026, 02:29 PM

Wednesday

The Smoot-Hawley Tariff Act of 1930, signed by President Herbert Hoover, dramatically raised U.S. tariffs on over 20,000 imported goods to protect American farmers and industries during the Great Depression, but it backfired spectacularly, leading to severe retaliatory tariffs from other nations, a massive decline in global trade, and worsening the economic crisis, becoming a symbol of disastrous protectionism.