So this person is claiming tariffs caused the 1929 depression?
Yes, the tariffs of 1929–1930, especially the **Smoot-Hawley Tariff Act** (passed in 1930), are widely believed to have **contributed to the Great Depression**, though they **did not cause it outright**.
### What was the Smoot-Hawley Tariff?
- It was a U.S. law that **raised tariffs on over 20,000 imported goods** to protect American industries and farmers.
- Passed in **June 1930**, right after the stock market crash of October 1929.
### How did it impact the Depression?
1. **Retaliation**: Other countries retaliated with their own tariffs (like Canada, France, and others), shrinking global trade.
2. **Global Trade Collapse**: International trade **plummeted by over 60%** between 1929 and 1934.
3. **Worsened the Slump**: As exports and imports fell, so did production and jobs, especially in export-reliant sectors.
4. **Damaged Global Confidence**: It signaled protectionism, worsening global economic cooperation at a critical time.
### Important Note:
- Most economists agree it **worsened and prolonged** the Depression but wasn't the main cause. That was due to factors like:
- The 1929 stock market crash
- Bank failures
- Deflation and a tight monetary policy by the Federal Reserve
This is from ai but it sounds reasonable