Which of the following describes the US trade policy in the 1930s? A Support efforts to expand trade with Asian markets. B Open industrial and agricultural markets to free trade with other nations. C Increase trade with other industrialized countries by lowering import taxes on all products. D Increase the price of farm products and industrial goods by increasing the taxes on imports.
History · High School · Tue Nov 03 2020
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(D) Increase the price of farm products and industrial goods by increasing the taxes on imports.
This refers to the protectionist trade policies implemented during the 1930s, particularly with the passage of the Smoot-Hawley Tariff Act in 1930. The act raised tariffs on a wide range of imported goods, aiming to protect domestic industries from foreign competition. However, it is important to note that such protectionist measures contributed to a decline in international trade and exacerbated the economic challenges of the Great Depression