Most of the immediate foreign retaliation against Smoot Hawley fell on the American agricultural sector. This set off a chain reaction of failing banks all across the country. Some of the worst effects weren’t even intentional retaliation. With reduced sales of manufactured goods to America, the Europeans didn’t have dollars with witch to buy American farm produce. Money had to be real back then. You couldn’t just write some numbers in a ledger like they do now.
When you actually need the damn spell checker it doesn't work.