Core Points - The article discusses the Smoot-Hawley Tariff Act, which significantly raised tariffs on thousands of imported goods in the U.S. by over 50% [5][4] - The act is widely regarded as a major economic mistake that contributed to the onset of the Great Depression [6][7] Historical Context - The Smoot-Hawley Tariff Act was signed into law by President Herbert Hoover on June 17, 1930, amidst the economic turmoil following the stock market crash of 1929 [4][44] - The act was initially proposed to protect American farmers from foreign competition, but it expanded to include over 2,000 products due to political bargaining [29][25] Economic Impact - Following the implementation of the tariff, the U.S. stock market saw a significant decline, with the Dow Jones Industrial Average dropping from 250 points to 230 points, an 8% decrease [52] - U.S. imports from Europe fell from $1.334 billion in 1929 to $390 million in 1932, a 70% decline, while exports dropped from $2.341 billion to $784 million, a 66% decrease [52] - Unemployment rates surged from 7.8% in 1930 to 25.1% in 1933, marking the beginning of the Great Depression [53] Global Repercussions - The tariff prompted retaliatory measures from other countries, leading to a significant decline in global trade, with world trade levels in 1933 dropping to one-third of those in 1929 [55] - The act is seen as having undermined international trust and cooperation, accelerating the global economic downturn [58][64]
95年前,美国向全世界发动的那场贸易战
Hu Xiu·2025-04-05 12:16