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Smoot-Hawley Tariff, 1930: Economic Lessons from the Great Depression

Hello Learners, In this video, "Smoot-Hawley Tariff, 1930: Economic Lessons from the Great Depression" we discuss in detail about a tariff act during the Great Depression Period. This video covers the basic history behind the reason for introducing Smoot-Hawley tariff, as well as the things that led to Great Depression. Smoot-Hawley Tariff act had a great influence both politically and economically. Following the act, many reforms were made so as to prevent future economic disasters from happening again. One such measures was the creation of World Trade Organization or the WTO. This video also covers things like: Types of Tariffs, Great Depression period, Smoot-Hawley Tariff, Fordney-McCumber Tariff Act, Impact of the Tariff act on Trade Relations, Reciprocal Trade Agreements Act (RTAA), Bretton Woods System, International Trade Organization and World Trade Organization Watch the video to know more! ______________________________ Timestamps 00:00 - Introduction 00:24 - Types of Tariffs 01:03 - History behind the Great Depression 02:14 - What is a Bank run? 03:21 - Smoot-Hawley Tariff Act 03:54 - Fordney-McCumber Tariff Act 05:41 - Protectionism: Merits and Demerits 06:59 - Impact on Global Trade & Employment 09:42 - Reciprocal Trade Agreements Act (RTAA) 09:58 - Bretton Woods System 10:37 - History behind World Trade Organization (WTO) 11:20 - Conclusion ________________________________ Comment below with your thoughts on tariffs. If you have found this video useful, then consider showing some love by liking :) 👉 Subscribe for more updates Credits:- Music: Between The Spaces - The Soundlings Videos: Pexels Information: https://www.investopedia.com/terms/t/... https://www.britannica.com/topic/Smoo... https://www.wallstreetoasis.com/resou... https://en.wikipedia.org/wiki/Smoot%E... #tariffs #economics #tariff #greatdepression #tradewar #history #historyfacts #economichistory #tradetariffs