Hoover signed the disastrous Smoot-Hawley Tariff in June 1930, which destroyed the global trading system and dried up the flow of international capital.
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The Smoot-Hawley Tariff, and the retaliatory tariffs by U.S. trading partners that followed afterwards, reduced American exports and imports by more than half.
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3.
But duties on Canadian exports of lumber are just one of a number of tariff proposals that have Mr Bush in hot water with his trading partners.