Answer:
President Hoover's main weakness in dealing with the Depression was his trust in the private sector.
Explanation:
Hoover's reputation waned in the Great Depression that began in 1929, as he did not initially seek to mitigate its consequences because of his economic policy stance. Hoover appealed for job retention and encouraged voluntary charities. As a consequence of this stance, homeless people began to call their slums "Hooverville", as they said these were created as a consequence of Hoover's policies.
In 1930, he signed the Smoot-Hawley Tariff Act, which significantly raised tariffs to protect domestic industry, and supported the founding of the Reconstruction Finance Corporation, which began in 1932 and included public construction projects.
As a result of customs duties, world trade collapsed as other countries increased their tariffs accordingly. In 1931, Hoover declared a one-year pause for the repayment of US military loans and for German military compensation to France. Due to tax cuts and a reduction in government revenue due to the recession, the Revenue Act of 1932 almost restored taxes and imposed new taxes on businesses and real estate.
