03/9/11

Hawley-Smoot Tariff


This video is a Yellow Hat Production. They made this for History class and tried to make it as entertaining as possible.
At 1930 the president Hoover passed the Hawley-Smoot Tariff which is increasing tax on foreign products in order to help domestic products win the competition. However, this act made the economy getting worse, because other countries also increased tax on American products. As a result, American reduced the international trade and raised the unemployment rate.