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The Tariff Act of 1890, commonly called the McKinley Tariff, was an act of the United States Congress, framed by then Representative William McKinley, that became law on October 1, 1890. [1] The tariff raised the average duty on imports to almost 50%, an increase designed to protect domestic industries and workers from foreign competition, as ...
The result was a wool tariff that helped the farmers by a high tariff rate on imported wool—a tariff the American manufacturers had to pay—together with a high tariff on finished woolens and worsted goods. [76]
The Tariff of 1828 was a very high protective tariff that became law in the United States on May 19, 1828. ... most specifically on raw wool imports, ...
The iron and steel industry, and the wool industry, were the well-organized interests groups that demanded, and usually obtained, high tariffs through support of the Republican Party. Industrial workers had much higher wages than their European counterparts, and they credited it to the tariff and voted Republican.
Inflation is moderating, but economists expect that trend could reverse quickly if Donald Trump follows through with a proposal to impose 10%-20% tariffs on all imports and a 60% tariff on Chinese ...
After 1890, the tariff on wool did affect an important industry, but otherwise the tariffs were designed to keep American wages high. The conservative Republican tradition, typified by William McKinley was a high tariff, while the Democrats typically called for a lower tariff to help consumers but they always failed until 1913. [39] [40]
It found that the proposed tariffs — a universal 10% to 20% tariff on imports from all foreign countries and an additional 60% to 100% tariff on imports specifically from China — would apply ...
President-elect Donald Trump really loves tariffs. So much so that he has said that he will impose 60% tariffs on Chinese imports, a 25% tariff on Mexican and Canadian goods and blanket tariffs of ...