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A high tariff to limit foreign competition is called a protective tariff.
Wiki User
∙ 9y ago
Wiki User
∙ 9y agoA high tariff that limits foreign competition is a protective tariff.
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What is the Yankee Tariff of Abomination?
A tariff that wasn't even meant to pass congress. It stipulated a ridiculously high import tariff, and the foreign economic response mainly affected the Southern States.
What was the name of the high tariff adopted in 1890?
The McKinley Tariff
During the late nineteenth and early twentieth centuries the us Government attempted to facilitate the growth of domestic industry by?
Placing high tariff barriers on foreign imports.
How did the US government attempt to facilitate the growth of domestic industry?
The US government attempted to facilitate the growth of domestic industry by placing high tariff barriers on foreign imports.
Why do you think tariff reform failed?
because they were high
High tariff to limit foreign competition?
A high protective tariff can limit foreign competition.
What was High tariff to limit foreign competition?
A high tariff that limits foreign competition is a protective tariff.
What did the North favor that the South did not just before the Civil War that would protect them from foreign competition?
A high tariff on imports
How did high tariff damage the us economy?
By angering foreign trade partners
What is the Yankee Tariff of Abomination?
A tariff that wasn't even meant to pass congress. It stipulated a ridiculously high import tariff, and the foreign economic response mainly affected the Southern States.
What is the purpose of protective tariff?
The purpose of a protective tariff. First of all, what is a protective tariff? It is a tax on imported goods (or goods that come into the country).So, a protective tariff would be one that protects the country from foreign competition. For example, the tariff of 1828. Northern prices were getting too high for the South to be able to pay, so instead the South bought its goods from other countries(England mainly). The Northern ecconomy was hurt because of this so Northern senators chose to place a tariff on all imported goods from foreign countries, thus protecting their industries.
Why did big businesses support high tariffs?
Big business support tariffs because they want to limit competition. If it is expensive for foreign companies to sell goods in the US, businesses in the US can control the market.
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 big business support high?
Big business support tariffs because they want to limit competition. If it is expensive for foreign companies to sell goods in the US, businesses in the US can control the market.
Where did Benjamin Harrison stand on the tariff issue?
Harrison favored a strong protective tariff. Cleveland wanted to reduce the tariff somewhat.
Combining companies to limit competition and keep prices high?
Known as Monopoly. We have laws that restrict this...
Scornful southern term for the high tariff of 1828?
Tariff of Abominations
