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Why did so many nations raise tariffs during the Great Depression?

A. They wanted to import more goods.
B. They wanted to slow the production of goods.
C. They wanted to export more goods.
D. They wanted their citizens to buy more domestic goods.

Sagot :

GinnyAnswer

Final answer:

During the Great Depression, nations raised tariffs to protect domestic industries and boost their economies, inadvertently causing retaliatory tariffs and a decline in international trade.


Explanation:

Raising tariffs during the Great Depression was a common practice among many nations as a response to economic challenges. The goal was to protect domestic industries by making foreign goods more expensive, thus encouraging consumers to buy locally-produced goods, ultimately aiming to boost the domestic economy. However, this approach often led to retaliatory tariffs by other countries and a decline in international trade, exacerbating the global economic crisis.


Learn more about Great Depression and Tariffs here:

https://brainly.com/question/295838


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