TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

@realitista@lemm.ee · 1 month ago

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

@WraithGear@lemmy.world · 1 month ago

But these local companies just jack up their price to be competitive to the new tariffed foreign price and pocket the money.

I Cast Fist · 1 month ago

Dunno, what usually happens without tariffs is that the bigger multinational companies drive the prices so low as to destroy local competition, after that they jack up the prices

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

TIL About the Smoot-Hawley Act, Which was the 20% Across the Board Tariff That Deepened the Great Depression and Resulted in the Largest Senate Seat Loss in History

Smoot–Hawley Tariff Act - Wikipedia

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