Past Present Future Ideas of Globalisation: Hoover and Smoot-Hawley (and Trump!)
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May 4, 2025 Historian Gary Gerstle dives into the tumultuous legacy of the Smoot-Hawley Act of 1930, revealing how it worsened the Great Depression and shifted political power in U.S. tariff policy. He explores why President Hoover failed to halt its protective measures and discusses the tensions between idealism and cynicism in American politics. Gerstle also connects historical tariff battles to today’s political landscape, raising questions about the limits of presidential authority and the dangers of isolationism in a global economy.
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McKinley Tariff Cemented GOP Dominance
- The McKinley tariff increased protectionism, cementing the Republican Party's dominance from the 1890s through the 1920s.
- Tariffs were seen as vital to protecting American industry and shaping the nation’s global economic role.
Tariff Policy Belonged to Congress
- Tariff policy was rightly debated in Congress where the people's voice was strong in the early 20th century.
- Presidents worked with Congress but recognized tariffs needed legislative approval due to their major economic impact.
1920s Crisis Fueled Tariff Push
- The 1920s saw booming industry protected by tariffs and struggling agriculture demanding parity.
- Post-WWI disillusionment fueled isolationism and support for tariffs as a reaction against perceived global exploitation of America.