tariffs- protectionism

Created by: lucywedge16
Created on: 15-12-20 13:40


	tariffs- protectionism
	Causes New Rep platform, foster rapid industrial growth, The Morrill Tariff of 1861 March Remain high 1870's 1882 Pres Arthur set commission recommend how much tariffs reduced Mongrel Tariff of 1883, intended reduce tariffs, raised duties many products. Some multiple tariffs diff locations. 1887, Pres Cleveland launched campaign tariff reduction 1888 Republicans made protective tariffs cornerstone of campaign McKinley Tariff Act (1890) increased average duties 38%-49.5% Economic depressions, became political issue. Wilson-Gorman Tariff act, passed by House but amended by Senate, in final form barely distinguishable from McKinley act William McKinley first action, The Dingley Tariff (1897), raised duties higher than ever, increasing by 57%.	Effects Tariff rates raised, encouraged domestic industry and foster higher wages for workers. Many countries retaliated trade with America due to this, raise duties against American items, difficult farmers export surplus produce overseas. Struggling farmers move cities to work. Democrats profess believe moderate tariffs, but Dam congressmen from industrial states side Reps. recommended a 20-25% reduction, protectionists in conger saw popular, but wanted industrialisation at steep increase. proposal was counter-productive. Tariff rates reduced average 1.47%, most remaining 35-40%. was blocked by Republican-controlled Senate industrialists gave huge sums of money to Reps. to reward industrialists 1892, Cleveland campaign pledge to tariff reform. W\ only slightly reduced US tariff rates
	Overall summary Purpose of tariffs generate revenue for federal government, allow for important substitution industrialisation (foreign imports replaced domestic production), by acting as protective barriers around infant industries. Sped up industrialisation: - no competition, could therefore isolate their goods, charge more for them as consumers forced to buy from American companies, making more money.-Farmers, no market for surplus produce overseas (retaliatory tariffs) and only able to buy overpriced US goods. Farmers struggled, move to big cities like NYC, for jobs by fuelling man power to industrialisation. -piled up a revenue surplus making more money in America and leading to more money being able to be invested and spent in industry.-Most urban workers feared that wage levels would fall sharply if goods produced abroad by cheap labour entered USA untaxed.

tariffs- protectionism

Causes

New Rep platform, foster rapid industrial growth, The Morrill Tariff of 1861 March
Remain high 1870's
1882 Pres Arthur set commission recommend how much tariffs reduced
Mongrel Tariff of 1883, intended reduce tariffs, raised duties many products. Some multiple tariffs diff locations.
1887, Pres Cleveland launched campaign tariff reduction
1888 Republicans made protective tariffs cornerstone of campaign
McKinley Tariff Act (1890) increased average duties 38%-49.5%
Economic depressions, became political issue.
Wilson-Gorman Tariff act, passed by House but amended by Senate, in final form barely distinguishable from McKinley act
William McKinley first action, The Dingley Tariff (1897), raised duties higher than ever, increasing by 57%.

Effects

Tariff rates raised, encouraged domestic industry and foster higher wages for workers. Many countries retaliated trade with America due to this, raise duties against American items, difficult farmers export surplus produce overseas. Struggling farmers move cities to work.
Democrats profess believe moderate tariffs, but Dam congressmen from industrial states side Reps.
recommended a 20-25% reduction, protectionists in conger saw popular, but wanted industrialisation at steep increase.
proposal was counter-productive. Tariff rates reduced average 1.47%, most remaining 35-40%.
was blocked by Republican-controlled Senate
industrialists gave huge sums of money to Reps.
to reward industrialists
1892, Cleveland campaign pledge to tariff reform. W\
only slightly reduced US tariff rates

Overall summary

Purpose of tariffs generate revenue for federal government, allow for important substitution industrialisation (foreign imports replaced domestic production), by acting as protective barriers around infant industries. Sped up industrialisation: - no competition, could therefore isolate their goods, charge more for them as consumers forced to buy from American companies, making more money.-Farmers, no market for surplus produce overseas (retaliatory tariffs) and only able to buy overpriced US goods. Farmers struggled, move to big cities like NYC, for jobs by fuelling man power to industrialisation. -piled up a revenue surplus making more money in America and leading to more money being able to be invested and spent in industry.-Most urban workers feared that wage levels would fall sharply if goods produced abroad by cheap labour entered USA untaxed.

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tariffs- protectionism