state the characteristics of the smoot Hawley tariff act, 1930
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In June 1930, Smoot-Hawley raised already high U.S. tariffs on foreign agricultural imports. The purpose was to support U.S. farmers who had been ravaged by the Depression. Instead, it raised food prices. ... Smoot-Hawley showed how dangerous trade protectionism is for the global economy.
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In June 1930, Smoot-Hawley raised already high U.S. tariffs on foreign agricultural imports
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