How did the Hawley-Smoot Tariff help spread the Depression overseas? The Hawley-Smoot Tariff caused bank depositors to withdraw money in sustained "runs." The Hawley-Smoot Tariff caused other countries to retaliate, so markets for American goods dried up. The Hawley-Smoot Tariff caused American investors to lose confidence in the stock market. The Hawley-Smoot Tariff lowered prices of foreign goods in the American market, so American businesses couldn't compete.