Loyal trading partners, including Canada, retaliated.
American imports & exports dropped two-thirds — 67%.
When the act passed, unemployment in US was 8%
16% in 1931.
25% in 1932.
Tariffs helped make a depression the Great Depression.
Loyal trading partners, including Canada, retaliated.
American imports & exports dropped two-thirds — 67%.
When the act passed, unemployment in US was 8%
16% in 1931.
25% in 1932.
Tariffs helped make a depression the Great Depression.