Which of the following is true of the Smoot-Hawley tariff? [Select all that apply.] Which of the following is true of the Smoot-Hawley tariff? [Select all that apply.] It is a classic example of protectionism. It caused many European banks to collapse and deepened the global depression. It was intended to make imported goods more expensive and give Americans a chance to compete. Other nations responded by placing equally high tariffs on their own exports