Unverified50% confidenceFactExact time
The Smoot-Hawley Tariff Act was proposed by Representative Willis Hawley and Senator Reed Smoot, signed into law by President Hoover in June 1930, and raised tariffs on more than 20,000 imported goods to historic highs, with the average rate rising to about 40% or more.
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10/19/2026
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Related Claims
UnverifiedWhen the Smoot-Hawley Tariff Act was introduced, more than a thousand economists signed a petition against it, arguing that high tariffs would hinder the international division of labor, invite retaliation, and deepen the Depression.59% similarUnverifiedAcademia generally regards the Smoot-Hawley Tariff Act as an important driver of the deepening of the Great Depression and the fragmentation of the international trading system, and it is also often cited as a classic negative example of "beggar-thy-neighbor" policy.55% similarVerifiedThe U.S. Sherman Antitrust Act was enacted in 1890 under the sponsorship of Ohio Senator John Sherman.51% similarUnverifiedEconomic historian Paul David's research found that electricity took nearly 40 years from its commercialization in the 1880s to meaningfully boosting manufacturing productivity in the 1920s51% similar
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