darcymcneill.bsky.social
@darcymcneill.bsky.social
Reposted
In 1930, Congress passed Smoot-Hawley Tariff Act.

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.
January 17, 2025 at 2:22 AM