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POLI 354 (26)
Chapter 17

Chapter 17 - Smoot Hawley Tariff

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McGill University
Political Science
POLI 354
Mark Brawley

Chapter 17 The Passage of the SmootHawley Tariff The Trade Regime After World War I y During WWI countries moved away from free trade an tried to manipulate their international economic relations to aid its own war effort y Countries raised tariffs during the war including the US who managed to increase agricultural exports during the war y After the war new countries wanted to improve industrial base and all adopted high tariffs y US concerned with role of high tariffs in postwar adjustment process to return to peacetime production Enacted Emergency Tariff in 1921 and raised agricultural tariffs in 1922 major agri exporters raised tariffs too y Agricultural goods flooded international markets and prices fell to about 20 of prewar price levelsfarmers started demanding protection y Everyone else was fine with farmers getting protectionism as long as they got it tooled to logrolling in order to get one piece of legislation to go through other groups narrow conditions must also be met y Led to SmootHawley tariff of 1930SystemLevel Theory A Failed Hegemonic Transition y Realists try to understand why US wasnt acting like a hegemon even though it emerged from WWI as the economic and financial centrey Lake Argues that a state needs s
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