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95th Anniversary of Smoot-Hawley Tariff Act: A Trade History Lesson

The U.S. Senate commemorates the 95th anniversary of the 1930 Smoot-Hawley Tariff Act, which significantly raised tariffs on imported goods. Intended to protect American industries, this act led to retaliatory tariffs, a sharp decline in exports, and deepened the Great Depression, negatively impacting jobs and personal finances. The resolution now emphasizes the importance of open trade for economic growth and lower prices.
Key points
The 1930 Act raised tariffs to protect domestic industries, but it triggered retaliatory measures from other countries.
Increased tariffs contributed to a 68% drop in U.S. exports and worsened the Great Depression, leading to higher unemployment.
The Senate now highlights the benefits of open trade, such as lower consumer prices and increased exports.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_SRES_281
Sponsor: Sen. Cantwell, Maria [D-WA]
Process start date: 2025-06-17
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

A resolution commemorating the 95th anniversary of the enactment of the Tariff Act of 1930.

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_SRES_281.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2025-06-17.

What are the main provisions?

Key points include:

  • The 1930 Act raised tariffs to protect domestic industries, but it triggered retaliatory measures from other countries.
  • Increased tariffs contributed to a 68% drop in U.S. exports and worsened the Great Depression, leading to higher unemployment.
  • The Senate now highlights the benefits of open trade, such as lower consumer prices and increased exports.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cantwell, Maria [D-WA].

What is the latest detailed status?

The latest detailed status is: Introduced in Senate

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Economy