Trade Barriers Answers

Tariffs are a tax placed on [___] goods.Tariffs are used to give domestically produced goods [___] in the market.As a result of tariffs, imported goods become [___] expensive for consumers

Which ideas did you include in your answer? Check all that apply.

The Hawley-Smoot Tariff Act passed in January [___] . The act was passed by Congress [___] the start of the Great Depression.The purpose of the act was to [___] purchases of domestic goods.

What did government leaders hope the result of the new tariff would be?

Which outcomes resulted from the passage of the Hawley-Smoot Tariff Act? Check all that apply.Countries around the world increased their tariffs in response.Trade gradually increased as taxes on imports fell.Domestic industries initially benefited from new tariffs.Imports and exports exchanged between the United States and Britain fell by nearly 66%.Countries such as Germany and Austria were able to control their economic downturn.

In response to the economic trends triggered by the Great Depression and the Hawley-Smoot Tariff Act, President Roosevelt signed the Reciprocal Trade Agreements Act.What was the main purpose of this act?It banned tariffs within the United States for ten years.It was designed to promote consumer spending through decreased taxes.It allowed the US government to work with other countries to reduce tariffs.It increased tariffs to boost protectionism.

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Based on what you know about the Hawley-Smoot Tariff Act, how can tariffs be both useful and dangerous tools?Give your answer in a short paragraph.