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By angering foreign trade partners
Wiki User
∙ 8y ago
How did the high tariffs damage the US Economy?
By angering foreign trade partners
How did high tariff damage the us economy?
By angering foreign trade partners
What caused damage to the US economy in the late 1920's?
a shortage of workers
During the 1920s European nations retaliated against US tariff hikes by increasing their own tariffs?
Tariffs are not that high in the USA during the 1920s. European countries had high tariffs as well, definitely compared to the pre-WW1 period, but this was mostly because of problems reestablishing the gold standard
How was the us economy in the 1970's?
It was very high?
How high did tariffs damage the us economy?
By angering foreign trade partners
How did the high tariffs damage the US Economy?
By angering foreign trade partners
What was one result of high US tariffs on imported goods?
One effect of high American tariffs caused foreign trade to almost stop. This had other countries angry with the US, which caused them to stop buying US goods and they raised their tariffs, which had a effect on the American economy.
How did high tariff damage the us economy?
By angering foreign trade partners
How do high tariffs damage an economy?
In certain situations, throughout the 19th and 20th centuries, tariffs have always been a subject of nations' economic progress. Tariffs area tax on imported products and the US government has control over tariffs. When tariffs are abused it forces consumers to pay more for imported goods. This often times helps domestic companies which because of tariffs forces people to buy from them.There was a period of time in 19th century US, where the Southern populations was forced to buy goods from Northern factories, at a higher price than would otherwise be except for these "protective" tariffs. It also was a strain on the entire economy.
How did high US tariffs effect the economy during the 1920s?
Foreign countries could not afford to buy U.S. exports or repay U.S. loans.
Why did tariffs hurt U.S citizens?
Tariffs hurt US citizens because the prices were increased and they had to pay high costs.
Why did big businesses support high tariffs?
Big business support tariffs because they want to limit competition. If it is expensive for foreign companies to sell goods in the US, businesses in the US can control the market.
What caused damage to the US economy in the late 1920's?
a shortage of workers
During the 1920s European nations retaliated against US tariff hikes by increasing their own tariffs?
Tariffs are not that high in the USA during the 1920s. European countries had high tariffs as well, definitely compared to the pre-WW1 period, but this was mostly because of problems reestablishing the gold standard
How was the us economy in the 1970's?
It was very high?
How did the smoot Hawley act damage the us economy?
The Hawley Smoot Tariff was the largest tariff in American history. It raised the taxes incredibly on imported goods. Unfortunately, foreign markets did the same in response. This began a "trade war" between U.S. and foreign markets. This in turn did hurt the U.S. economy.
