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A high tariff to limit foreign competition is called a protective tariff.

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9y ago

A high tariff that limits foreign competition is a protective tariff.

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Q: What was the high tariff to limit foreign competition?
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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...


The principal reason congress raised tariff rates in the late 1800's and early 1900s was to?

1. Increase personal income taxes 2. Lower prices for American Consumers 3. Guarantee high wages to American Workers 4. Protect United States businesses from foreign competition. That was the principal reason why Congress raised tariff rates in the late 1800s and early 1900s.