Tariff Act of 1930

The Tariff Act of 1930, also known as the Smoot-Hawley Tariff, was a U.S. law that significantly raised tariffs on imported goods to protect American industries during the Great Depression. Its aim was to encourage domestic production by making foreign products more expensive. However, the act led to retaliatory tariffs from other countries, reducing international trade and worsening the economic situation. While it aimed to safeguard American jobs, it contributed to global trade tensions and deepened the economic downturn of the era, illustrating the complexities of protectionist policies.