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The Walker Tariff was a set of tariff rates adopted by the United States in 1846. Enacted by the Democrats, it made substantial cuts in the high rates of the "Black Tariff" of 1842, enacted by the Whigs. It was based on a report by Secretary of the Treasury Robert J. Walker. The Walker Tariff reduced tariff rates from 32% to 25%.
Robert James Walker (July 19, 1801 – November 11, 1869) was an American lawyer, economist and politician. An active member of the Democratic Party, he served as a member of the U.S. Senate from Mississippi from 1835 until 1845, as Secretary of the Treasury from 1845 to 1849 during the administration of President James K. Polk, and briefly as Territorial Governor of Kansas in 1857.
The Tariff of 1857 was a major tax reduction in the United States that amended the Walker Tariff of 1846 by lowering rates to between 15% and 24%. [ 1 ] [ 2 ] The Tariff of 1857 was developed in response to a federal budget surplus in the mid-1850s. [ 2 ]
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 ...
The Walker Tariff of 1846, named after Polk's Treasury Secretary Robert J. Walker, significantly reduced import duties. This policy change aimed to lower prices paid by American consumers. The United States added more territory during the one term administration of President Polk than during any other president's administration.
August 30, 1842: Tariff of 1842 ... Robert J. Walker (D) Missouri ... Robert C. Winthrop (W), from November 29, 1842
At least 592 cases were reported after the alert was first raised by Congo's health ministry on Oct. 29. The ministry said the disease had a fatality rate of 6.25%.
United States Treasury Secretary Robert Walker proposed the establishment of a bonded warehousing system based on the one employed by Britain in his 1846 report to Congress. The bill was adopted following the Walker Tariff of 1846 and implemented in 1847.