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Simple English definitions for legal terms

Tariff Act of 1930

Read a random definition: justicier

A quick definition of Tariff Act of 1930:

The Tariff Act of 1930, also known as the Smoot-Hawley Tariff Act, was a law that increased taxes on goods imported into the United States. This made it more expensive for other countries to sell their products in the US, and caused those countries to raise their own taxes on American goods. This led to a decrease in international trade and is believed to have contributed to the Great Depression, a time of economic hardship in the US and around the world.

A more thorough explanation:

The Tariff Act of 1930, also known as the Smoot-Hawley Tariff Act, was a law passed in 1930 that increased the rates of tariffs on imported goods in the United States. This law was created to protect American businesses and farmers from foreign competition. However, it had unintended consequences that worsened the Great Depression.

The Smoot-Hawley Tariff Act raised tariffs on most imported goods, making them more expensive for American consumers. This led to retaliatory tariffs from other countries, which hurt American exports and made the economic situation worse.

For example, if a foreign company wanted to sell a product in the United States, they would have to pay a higher tariff than before. This made their product more expensive for American consumers, who might choose to buy a cheaper American-made product instead. However, other countries responded by raising their own tariffs on American goods, making it harder for American businesses to sell their products overseas.

Overall, the Tariff Act of 1930 had negative effects on the American economy and worsened the Great Depression.

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HopefullyInLawSchool
16:06
it means you will not be rejected today and may be accepted or WL in the future
Just got my Michigan rejection
BookwormBroker
16:10
same
RoaldDahl
16:10
@HopefullyInLawSchool: what if i already got rejected. does it mean anything
HopefullyInLawSchool
16:12
@RoaldDahl: Likely not however it could mean nothing
RoaldDahl
16:15
So if it means nothing does that mean something?
HopefullyInLawSchool
16:17
Possibly
RoaldDahl
16:26
Cool
RoaldDahl
16:26
thank you!!!! i hope it means something
pinkandblue
16:31
fart
IrishDinosaur
16:36
Mich R gang lesgooo
Did anyone else get that random get to know nova email?
HopefullyInLawSchool
17:21
Ya it was sent to all YM applicants
starfishies
17:37
Anyone get the NDLS email inviting you to apply for something even though they haven’t made a decision on your app yet
17:38
Better yet I got the email and I was rejected last month
starfishies
17:38
Wtf
starfishies
17:39
and the deadline is in like a week what is this
any cardozo movement?
BatmanBeyond
18:01
Sent a LOCI via portal, but I'm wondering if email would have gotten me a swifter response
BatmanBeyond
18:02
This whole hold/wait-list/reserve system is a headache
loci already?
BatmanBeyond
18:09
If the odds are like 1-2% I don't think it matters much by the numbers
12:11
I got the same NDLS email
OrangeThing
12:18
I think the user profiles are broken
19:29
Any word out of Notre Dame?
19:29
Only the invitation to apply for LSE
19:29
Anyone received a decision from NDLS?
19:50
when did u guys apply that just heard from umich? they havent even glanced at my app yet
0:30
how am i supposed to spy on people when profile links are broken?
Right. Broken links smh
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