The Economists’ Smoot-Hawley Tariff Protest of 1930

We are convinced that increased protective duties would be a mistake. They would operate, in general, to increase the prices which domestic consumers would have to pay. By raising prices they would encourage concerns with higher costs to...Read more
We are convinced that increased protective duties would be a mistake. They would operate, in general, to increase the prices which domestic consumers would have to pay. By raising prices they would encourage concerns with higher costs to undertake production, thus compelling the consumer to subsidize waste and inefficiency in industry. First, as consumers they would have to pay still higher prices for the products, made of textiles, chemicals, iron, and steel, which they buy. Second, as producers, their ability to sell their products would be further restricted by the barriers placed in the way of foreigners who wished to sell manufactured goods to us.Our export trade, in general, would suffer. Countries can not permanently buy from us unless they are permitted to sell to us, and the more we restrict the importation of goods from them by means of ever higher tariffs the more we reduce the possibility of our exporting to them There are few more ironical spectacles than that of the American Government as it seeks, on the one hand, to promote exports… while, on the other hand, by increasing tariffs it makes exportation ever more difficult. A tariff war does not furnish good soil for the growth of world peace. Read less
Washington, DC (Global)
May 25, 2019
Submitted by: pdouglasuchicago

Recent activity

Paul H. Douglas
edited the project details
3 months ago

Paul H. Douglas
edited the project details
3 months ago
Paul H. Douglas
edited the project details
3 months ago
Paul H. Douglas
edited the project details
3 months ago
Paul H. Douglas
edited the project details
3 months ago
Byron Patton Harrison
submitted a reply
3 months ago
Paul H. Douglas
suggested a solution
3 months ago
Paul H. Douglas
submitted a reply
3 months ago
Paul H. Douglas
edited the project details
3 months ago
Paul H. Douglas
edited the project details
3 months ago

Suggested solution

Paul H. Douglas

Not yet rated

The undersigned 1,028 American economists and teachers of economics strongly urge that any measure which provides for a general upward revision of tariff rates be denied passage by Congress [or] vetoed by the President.

No comments
Reply

No other solution so far

 

Your solution

Supporting info

1,028 Economists Ask Hoover To Veto Pending Tariff Bill: Professors in 179 Colleges and Other Leaders Assail Rise in Rates as Harmful to Country and Sure to Bring Reprisals

1930/05/05 - New York Times

The Smoot-Hawley Tariff and the Great Depression

2012/02/29 - Foundation for Economic Education

Economists Against Smoot-Hawley

2007/09/03 - Econ Journal Watch

Shades of Smoot-Hawley

1985/10/07 - TIME