0
A retaliatory tariff is a tax that is imposed by one country because Another Country increased their tax rate. This is an act that is done in retaliation.
What else can I help you with?
Which is the purpose of a retaliatory tariff?
A retaliatory tariff is a tax that is imposed by one country because another country increased their tax rate. This is an act that is done in retaliation.
How would you match each type of tariff A revenue tariff B protective tariff with its purpose C retaliatory tariff 1 earn money for the government 2 engage in a trade war 3 help domestic producers?
Revenue tariff - Earn Money for the Government Protective Tariff - Help domestic producers Retaliatory tariff - engage in a trade war
What type of tariff is used to fight against protectionist policies by another country?
Retaliatory.
What are types of tariff with an example of its use?
Revenue tariff: A 5% tariff on sugar to generate public revenue; Protective tariff: A 50% tariff on sugar to keep domestic sugar producers in business; Retaliatory tariff: A 500% tariff on sugar to reply to a high tariff imposed by another country. or sales tax- 8% charged on purchases of luxury goods excise tax- 20% tax charged on each pack of cigarettes capital gains- 15% charged on profits from selling commodities or revenue tariff- a 6% tariff on oranges to provide money for the government protective tariff- a 50% tariff on oranges to shield domestic orange growers from international competition retaliatory tariff- a 200% tariff on oranges to reply to a high tariff imposed by another country
Why did the smoot-hawlay tariff act backfire?
The act brought retaliatory tariff acts from foreign countries, U.S. foreign trade suffered a sharp decline, and the depression (etc...)
What was Fordney-McCumber tariff?
The Fordney-McCumber Tariff of 1922 was a law in the United States that created a Tariff Commission to raise or lower rates by 50%. This was a post-World War I Republican defense against expected Europeans exports. Retaliatory tariffs sprang up.
What is retaliatory duty?
My interpretation is when someone gives one some kind of "crappy" chore to do when they are mad at them or to get back at them for doing something someone didnt like.
What was the Fordney- McCumber Tariff?
The Fordney-McCumber Tariff of 1922 was a law in the United States that created a Tariff Commission to raise or lower rates by 50%. This was a post-World War I Republican defense against expected Europeans exports. Retaliatory tariffs sprang up.
What was the Fordney-McCumber Tariff?
The Fordney-McCumber Tariff of 1922 was a law in the United States that created a Tariff Commission to raise or lower rates by 50%. This was a post-World War I Republican defense against expected Europeans exports. Retaliatory tariffs sprang up.
An example of a tarrif on a us product?
One example of a tariff on a U.S. product is the tariff imposed on steel and aluminum imports under Section 232 of the Trade Expansion Act of 1962. In 2018, the U.S. government implemented a 25% tariff on steel and a 10% tariff on aluminum imports from various countries, citing national security concerns. This policy aimed to protect domestic producers from foreign competition but also sparked trade tensions and retaliatory tariffs from affected countries.
The mercantile system began to fail because of what?
Mercantilism acted as a deterrent to free trade by enacting barriers in the same ways as protectionism. Restricting trade by tariffs hurt the country enacting the tariff as much as the countries that were forced to pay the tariff. In the end retaliatory tariffs caused the system to fail.
Why did the southerners resist the increased tariff in 1828?
Southerners resisted the increased tariff of 1828, known as the "Tariff of Abominations," because it raised the cost of imported goods, disproportionately affecting their economy which relied heavily on trade. The South, primarily agrarian, feared that higher tariffs would lead to retaliatory measures from foreign countries, harming their cotton exports. Additionally, many southerners believed the tariff favored Northern industrial interests at their expense, fueling regional tensions and contributing to the broader conflict over states' rights.
