Tariff critics have shared on social media a November 1988 video clip of President Ronald Reagan calling Smoot-Hawley "a ...

He added there was "no reason" for markets to price in a recession. The Smoot-Hawley Act of 1930, maybe most familiar due to its inclusion in the 1986 film “Ferris Bueller’s Day Off,” was ...

"The Smoot-Hawley tariff ignited an international trade war and helped sink our country into the Great Depression," then-president Ronald Reagan said during a radio address in 1986. The measure ...

"The Smoot-Hawley tariff ignited an international trade war and helped sink our country into the Great Depression," then-president Ronald Reagan said during a radio address in 1986. The measure ...

FRAME STUDIO / Getty Images The Smoot-Hawley Tariff Act of 1930 increased import tariffs by about 20%, kicking off a global trade war that contributed to the Great Depression's ill effects.