Question

Document 2

“If [the Hawley-Smoot] is enacted into law…we will have a new era of prosperity such as followed the enactment of every Republican tariff bill, in which all of the people of the United States in every occupation, every industry, and every employment will share as they have always shared.”
~Willis Hawley, 1928
Inferring from the historical context, how accurate was the prediction made in Document 2?

Answer 1

[AI-generated answer — Bot GPT 3.5]

The prediction made in Document 2, stating that the enactment of the Hawley-Smoot tariff would lead to a new era of prosperity for all people in the United States, was not accurate. The Hawley-Smoot tariff of 1930 was one of the highest protective tariffs in U.S. history, aimed at protecting American industries from foreign competition during the Great Depression. However, instead of fostering economic growth and prosperity, the tariff exacerbated the economic downturn by triggering retaliatory tariffs from other countries and reducing international trade. This led to a decline in exports, global trade tensions, and further economic hardships for American farmers and industries heavily dependent on international markets. Therefore, the prediction made in Document 2 did not align with the actual consequences of the Hawley-Smoot tariff.