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It was a tariff that Congress wanted to pass for high tariffs to protect American industries.
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∙ 13y ago
Wiki User
∙ 16y ago1909
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How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?
Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?" Answering "How were the Payne-Aldrich Tariff and the Underwood Tariff Act similar?"
What factor helped to worsen the great depression?
The Smoot-Hawley Tariff act
What did the Underwood Tariif do?
The Underwood Tariff lowered the basic tariff rate. It lowered the rate from 40 percent to 25 percent. It is also known as the Revenue Act of 1913, Underwood Act, and Tariff Act.
The McKinley Tariff resulted in?
The tariff raised the average duty on imports to almost fifty percent, an act designed to protect domestic industries from foreign competition. The McKinley Tariff was replaced with the Wilsonâ??Gorman Tariff Act in 1894, which promptly lowered tariff rates.
What act was passed by congress in 1828?
Tariff of Abominations act.
What affect did the Fordney-McCumber Tariff have on Europe?
The Fordney-McCumber Tariff Act of 1922 made it difficult for Europe to do business with the United States. This Tariff Act placed a power on the President of the United States to raise tariff rates by up to 50%.
When was the smoot-howley tariff established?
June 17, 1930 was when this tariff act was signed into law.
Who can you use the word tariff in a sentence?
During the Tea Act, colonists were forced to pay a tariff on the tea that they bought.
How would you use tariff in a sentence?
During the Tea Act, colonists were forced to pay a tariff on the tea that they bought.
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...)
How did the tariff crisis lead to the Nullification Act?
The high tariff meant that Southerners had to pay more for imports. Many people thought that the tariff was unconstitutional. Anger against the tariff increased in the South. Congress passed a new tariff in 1832 that lowered the rate slightly. South Carolina was not satisfied. It passed the Nullification Act, which declared the new tariff illegal. US President Andrew Jackson sent US troops to South Carolina to enforce Federal tariff laws.
What did investors fear would happen because of the Smoot- Hawley tariff act?
Falling prices of goods is what investors feared would happen because of the Smoot-Hawley Tariff Act.
