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Events on Tuesday 17 June 1930 1
1930Smoot-Hawley Tariff Act signedUS raises import duties on thousands of goodsPresident Herbert Hoover signed the Smoot-Hawley Tariff Act, which raised US tariffs on more than 20,000 imported goods. Trading partners retaliated with tariffs of their own. The act is widely blamed for deepening the collapse of world trade during the Great Depression.