London: Protest and complaint come fast and fierce to
the U.S. Smoot-Hawley tariff act.
Critics say it will jeopardize Britain’s war debt repayments to the U.S.,
and demand that Great Britain raise tariffs to protect her industries in turn.
Paris: Newspapers and politicians of all stripes denounce
the U.S. tariff act. The Minister of
Commerce calls it a “false remedy” for the worldwide economic
depression. French economists are
calling for a European “tariff union” to offset the U.S. measure.
Madrid: The government orders a committee to study
the effects of the U.S. tariff. Critics
are calling for Spain to break its current trade agreement with the U.S. in
retaliation.
Berlin: Finance Minister Paul Moldenhauer is reportedly
resigning in the face of widespread disfavor for his financial reform measures,
such as new taxes on employees and bachelors.
The cabinet of Chancellor Heinrich Bruening meets in special session
tonight to discuss the matter.
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