Comments by "Darlene" (@darlene2709) on "Bloomberg Podcasts" channel.

  1. The Smoot-Hawley Tariff Act of 1930 made the Great Depression worse by:  Increasing import prices: The act made imports unaffordable for most people, except the wealthy.  Decreasing exports: The act dramatically reduced the amount of exported goods.  Contributing to bank failures: The act contributed to bank failures, especially in agricultural regions.  Encouraging other countries to raise tariffs: The act encouraged every country that traded with the United States to raise tariffs as well.  Reducing global trade: The act reduced global trade and slowed down the global economy.  Highlighting the dangers of protectionist trade policies: The act highlighted how dangerous protectionist trade policies are for the world economy.
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