Jump to ContentJump to Main Navigation
Peddling ProtectionismSmoot-Hawley and the Great Depression$
Users without a subscription are not able to see the full content.

Douglas A. Irwin

Print publication date: 2011

Print ISBN-13: 9780691150321

Published to Princeton Scholarship Online: October 2017

DOI: 10.23943/princeton/9780691150321.001.0001

Show Summary Details
Page of

PRINTED FROM PRINCETON SCHOLARSHIP ONLINE (www.princeton.universitypressscholarship.com). (c) Copyright Princeton University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in PRSO for personal use.date: 26 September 2021

Aftermath and Legacy

Aftermath and Legacy

(p.184) Chapter 4 Aftermath and Legacy
Peddling Protectionism

Douglas A. Irwin

Princeton University Press

This chapter assesses the aftermath and legacy of the Smoot–Hawley tariff. Smoot–Hawley gave congressional trade policy making a bad name that persists to this day. Those who enacted it promised economic growth and prosperity, but it was followed instead by plummeting exports and depression. The Tariff Act of 1930, the formal name of the Smoot–Hawley tariff, was the last general tariff revision undertaken by Congress. Four years later, Congress ushered in a new era of U.S. trade policy by delegating power to the president to negotiate agreements with other countries to reduce tariffs. This approach gave the United States its current system, embodied in the General Agreement on Tariffs and Trade and its successor, the World Trade Organization. Yet the lessons of Smoot–Hawley continue to be debated whenever trade policy issues rise to the top of the national agenda.

Keywords:   Smoot–Hawley tariff, protectionism, trade policy, Congress, Tariff Act 1930, General Agreement on Tariffs and Trade, World Trade Organization

Princeton Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us.