TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

@realitista@lemm.ee · 3 months ago

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

@WraithGear@lemmy.world · 3 months ago

I was thinking about the protectionism though… like in order for the tariff to work, the us would have to also manufacture the good that is being tariffed. But we don’t produce a lot here…and also even if we did… i guarantee the us business would jack up the prices to be competitive with the foreign price After tariffs and pocket the money. Making the whole thing moot.

@Initiateofthevoid@lemmy.dbzer0.com · edit-2 23 days ago

deleted by creator

@WraithGear@lemmy.world · 3 months ago

Yea no matter how you slice it, there are no good use of tariffs, and if one were to insist, then it would only be like just barley enough to push up the price above parity, and only on very select items. But then if the other country does it back it goes in favor to the nation that is more industrial.

@Initiateofthevoid@lemmy.dbzer0.com · edit-2 23 days ago

deleted by creator

@Ledericas@lemm.ee · 3 months ago

The soybean tariffs, china found other countries quite quickly into counter the tariffs, and they largely abandoned the US of soybeans export

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

Smoot–Hawley Tariff Act - Wikipedia

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