Tariff Act of 1930:
P.L. 71-361, also known as the Smoot-Hawley Act, raised U.S. import tariffs to their highest levels in history, prompting U.S. trading partners to adopt their own retaliatory trade barriers and exacerbating the Great Depression. Ensuing U.S. policies have virtually eliminated the Act’s most onerous provisions, but some elements of the amended law still serve as the authorizing vehicle for a number of general trade provisions of importance to the agricultural sector, including countervailing duties, antidumping duties, and country-of-origin labeling.
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