The Smoot-Hawley Act, signed into law in 1930, increased U. S. tariffs to an unprecedented level of 53%, causing a sharp decline in U. S. exports. In 1934, however, changes in the U. S. trade policy enabled U. S. manufacturers to resume business with their foreign distributors. Which of the following is the most likely reason for the increase in U. S. exports after these changes? A. The president received the authority to negotiate bilateral tariff-reduction agreements with foreign governments.
B. The scientific tariff was introduced, which allowed the president to increase tariff levels if foreign production costs were below those of the United States.
C. Congress was given the authority to approve bilateral trade agreements.