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Taussig (second from the left) at the 1911 Harvard commencement. Much of Taussigs work is available from Internet Archive: 1883: Protection to Young Industries as Applied to the United States (second edition, 1886) 1885: History of the Present Tariff, 1860–83; 1888: The Tariff History of the United States eighth edition, 1931,
The Tariff of 1842 returned the tariff to the level of 1832, with duties averaging between 23% and 35%. The Walker Tariff of 1846 essentially focused on revenue and reversed the trend of substituting specific for ad valorem duties. The Tariff of 1857 reduced the tariff to a general level of 20%, the lowest rate since 1830, and expanded the free ...
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Once tariffs are imposed, they become difficult to remove, particularly when national security issues are involved. The tariff protection may focus on a specific industry, like steel.
Aldrich, Mark. "Tariffs and Trusts, Profiteers and Middlemen: Popular Explanations for the High Cost of Living, 1897–1920." History of Political Economy 45.4 (2013): 693–746. Barfield, Claude E. "'Our Share of the Booty': The Democratic Party Cannonism, and the Payne–Aldrich Tariff." Journal of American History (1970) 57#2 pp. 308–323 ...
Trump’s calls to replace the existing federal income tax with protective tariffs is not only impractical in the face of growing federal deficits; it is also clashes with historical reality.
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