The Smoot-Hawley Tariff was a law enacted in 1930 that raised tariffs on many imported goods in the United States. Its primary goal was to protect American industries during the economic downturn of the Great Depression by making foreign products more expensive. However, it led to retaliatory tariffs from other countries, which further reduced international trade. As a result of the Smoot-Hawley Tariff, global trade volumes fell sharply, worsening the economic situation. Economists often cite this tariff as a significant factor that deepened the Great Depression, highlighting the risks of protectionist policies in a global economy.