Smoot-Hawley tariff imposed
Citations (1)
- Lords of Finance whole source · open book
With American capital bottled up at home and U.S. demand for European goods shrinking—a result of the weak U.S. economy and of higher import tariffs imposed in June 1930 by the Smoot-Hawley Act—Europe could only pay for its imports and service its debts in gold.
chapter: 18. MAGNETO TROUBLE - 1930-31