(The presidency of Herbert Hoover & his response to the Depression, 1929-1933) International trade Flashcards
1
Q
What was the Smoot-Hawley Tariff of July 1930?
What did it lead to?
A
40% tax on industrial & agricultural imports.
Devastating fall in international trade, worsening industry & agriculture.
2
Q
What is significant about the Smoot-Hawley Tariff of July 1930?
A
The highest tariff in US history.
3
Q
What was the repudiation of war debts in June 1931?
What was the impact of this?
A
The suspension of paying war debts.
Did little to solve problems.
4
Q
What was the intent behind the repudiation of war debts in June 1931?
A
To help European countries also going through economic depression.
