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Hawley-Smoot Act definition


The Hawley-Smoot Act, officially known as the Tariff Act of 1930, was a piece of legislation passed by the United States Congress in June 1930. The act raised tariffs, or taxes, on imported goods to the highest levels in US history. The goal of the act was to protect American farmers and businesses from foreign competition during the Great Depression, but it ultimately had the opposite effect, worsening the economic downturn and limiting international trade. The act is named after its two sponsors, Senator Reed Smoot of Utah and Representative Willis Hawley of Oregon.