Global financial system and Smoot–Hawley Tariff Act

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Difference between Global financial system and Smoot–Hawley Tariff Act

Global financial system vs. Smoot–Hawley Tariff Act

The global financial system is the worldwide framework of legal agreements, institutions, and both formal and informal economic actors that together facilitate international flows of financial capital for purposes of investment and trade financing. The Tariff Act of 1930 (codified at), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was an act implementing protectionist trade policies sponsored by Senator Reed Smoot and Representative Willis C. Hawley and was signed into law on June 17, 1930.

Democratic Party (United States)

The Democratic Party is one of the two major contemporary political parties in the United States, along with the Republican Party (nicknamed the GOP for Grand Old Party).

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Franklin D. Roosevelt

Franklin Delano Roosevelt Sr. (January 30, 1882 – April 12, 1945), often referred to by his initials FDR, was an American statesman and political leader who served as the 32nd President of the United States from 1933 until his death in 1945.

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Great Depression

The Great Depression was a severe worldwide economic depression that took place mostly during the 1930s, beginning in the United States.

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Henry Ford

Henry Ford (July 30, 1863 – April 7, 1947) was an American captain of industry and a business magnate, the founder of the Ford Motor Company, and the sponsor of the development of the assembly line technique of mass production.

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Herbert Hoover

Herbert Clark Hoover (August 10, 1874 – October 20, 1964) was an American engineer, businessman and politician who served as the 31st President of the United States from 1929 to 1933 during the Great Depression.

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International trade

International trade is the exchange of capital, goods, and services across international borders or territories.

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International Trade Organization

The International Trade Organization (ITO) was the proposed name for an international institution for the regulation of trade.

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J. P. Morgan

John Pierpont Morgan Sr. (April 17, 1837 – March 31, 1913) was an American financier and banker who dominated corporate finance and industrial consolidation in the United States of America in the late 19th and early 20th centuries.

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Protectionism

Protectionism is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.

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Republican Party (United States)

The Republican Party, also referred to as the GOP (abbreviation for Grand Old Party), is one of the two major political parties in the United States, the other being its historic rival, the Democratic Party.

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United States

The United States of America (USA), commonly known as the United States (U.S.) or America, is a federal republic composed of 50 states, a federal district, five major self-governing territories, and various possessions.

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World War I

World War I (often abbreviated as WWI or WW1), also known as the First World War, the Great War, or the War to End All Wars, was a global war originating in Europe that lasted from 28 July 1914 to 11 November 1918.

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World War II

World War II (often abbreviated to WWII or WW2), also known as the Second World War, was a global war that lasted from 1939 to 1945, although conflicts reflecting the ideological clash between what would become the Allied and Axis blocs began earlier.

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