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Great, we got us another Herbert Hoover. His Smoot-Hawley Tarrif Act in 1930 raised U.S. tariffs on over 20,000 imported goods to record levels so everyone would be forced to buy American and thus create jobs. But many countries retaliated with their own increased tariffs on U.S. goods, and American exports and imports plunged by more than half. Five months after the Smoot-Hawley tariffs, more than a year after the stock market crash, the unemployment rate hit double digits for the first time in the 1930s and we plunged from the Depression into the Great Depression. Protectionism is not the answer!
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2SS/RS - Black/Black - CGM Rally Stripes - Auto - VIN 10171
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