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The Fordney–McCumber Tariff of 1922 was a law that raised American tariffs on many imported goods to protect factories and farms. [1] [2] ... "The Tariff Act of 1922".
1883: Tariff of 1883 (Mongrel Tariff) 1890: McKinley Tariff; 1894: Wilson–Gorman Tariff Act; 1897: Dingley Tariff; 1909: Payne–Aldrich Tariff Act; 1913: Revenue Act of 1913 (Underwood Tariff) 1921: Emergency Tariff of 1921; 1922: Fordney–McCumber Tariff; 1930: Smoot–Hawley Tariff Act; 1934: Reciprocal Tariff Act; 1947: General Agreement ...
Harding hoped to sign a permanent tariff into law by the end of 1921, but heated congressional debate over tariff schedules, especially between agricultural and manufacturing interests, delayed passage of such a bill. [55] In September 1922, Harding enthusiastically signed the Fordney–McCumber Tariff Act. [56]
The measure remained in effect until the enactment of the Fordney–McCumber Tariff in 1922, one year after the Emergency Tariff was passed. The new, permanent tariff raised the rates even higher. Also in 1922, the Capper–Volstead Act was passed; it was designed to protect farm co-operatives by exempting them from antitrust laws.
The outbreak of war in 1914 made the impact of tariffs of much less importance compared to war contracts. When the Republicans returned to power the returned the rates to a high level in the Fordney–McCumber Tariff of 1922. The next raise came with the Smoot–Hawley Tariff Act of 1930 at the start of the Great Depression.
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But trade lawyers say the White House has some authority to act independently of Capitol Hill, ... the Trade Act of 1974 and the Tariff Act of 1930. ...
In 1905, McCumber was an ardent advocate of a pure food law. [11] One of his main legislative accomplishments was the Fordney–McCumber Tariff Act of 1922. In his position on the Pension Committee, he was part of the interrogation of Colonel W.S. Metcalfe on the alleged shooting of unarmed prisoners during the Philippine–American War , at ...