Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

how did the smoot-hawley tariff act contribute to the great depression?…

Question

how did the smoot-hawley tariff act contribute to the great depression?
foreign countries refused to buy american goods due to its passage.
higher income taxes made it harder for families to buy goods.
fewer americans bought domestic goods due to increased cost.
successful american businesses forced foreign businesses to close.

Explanation:

Brief Explanations

The Smoot-Hawley Tariff Act (1930) imposed high tariffs on imported goods. In response, foreign nations enacted retaliatory tariffs on U.S. exports, drastically reducing global demand for American goods. This trade contraction worsened economic conditions during the Great Depression. Higher income taxes (option B) are unrelated to tariffs. Increased domestic goods costs (option C) was not the primary contribution, and U.S. businesses forcing foreign closures (option D) is incorrect as retaliation harmed U.S. exports.

Answer:

A. Foreign countries refused to buy American goods due to its passage.