Protectionism

I want to present the most balanced and the most professional of views on the impact of the Smoot-Hawley Tariff on the Great Depression of the 1930s. To do that I have turned to the Economic History Association's Encyclopedia. The Economic History Association's Encyclopedia is available online at EH.Net. Here is the background of the Economic History Association's encyclopedia quoted from the home page of EH.Net.

A study by the U.S. Tariff Commission compared the tariff rates of Smoot-Hawley of 1930 to the tariff rates of Fordney-McCumber of 1922 and concluded, "Smoot-Hawley raised average tariff rates by about 2 1/2 percentage points from the already high rates prevailing under the Fordney-McCumber tariff of 1922."