How did the Hawley-Smoot tariff damage/hurt America's economy?
1 Answer
Feb 26, 2017
Other countries replied with similar measures(especially in Europe) and it was harder for American producers to export.
Explanation:
Protectionism did not prevent the collapse of the American industry, the shrinking of employment and the businesses' failures. Indeed as foreign countries replied with exaclty the same measures, there was less outlet for any economic sector.