The Smoot-Hawley Tariff Act of 1930
A) was passed to protect domestic jobs by imposing fines on firms that imported raw materials from abroad.
B) mandated the federal budget be balanced.
C) dramatically raised tariffs on products imported into the U.S. and led to retaliatory trade- restricting legislation around the world.
D) subsidized domestic firms which produced products for export.

Question

Quizplus · Accepted Answer

The Smoot-Hawley Tariff Act of 1930 dramatically raised tariffs on products imported into the U.S., which resulted in other countries imposing retaliatory trade-restricting legislation. It was not passed to protect domestic jobs by imposing fines on firms that imported raw materials from abroad, mandated a balanced federal budget, or subsidized domestic firms which produced products for export.