Which of the following resulted from the Smoot-Hawley trade bill of 1930?
A) The stock market began a steady recovery from the crash of October 1929.
B) Many countries responded by imposing higher tariffs on American products, and the volume of international trade fell sharply.
C) Imports decreased, while exports increased, resulting in an overall increase in GDP and tariff revenues.
D) The unemployment rate, which had been rising, began to steadily decline as jobs were protected by the trade restrictions.

Question

Quizplus · Accepted Answer

The Smoot-Hawley Tariff Act led to retaliatory tariffs from other countries, which significantly reduced international trade and worsened the Great Depression.

Which of the Following Resulted from the Smoot-Hawley Trade Bill