American System
American system
Protective tariffs meant American goods were taxed less than imported goods.
The call for a tariff to stimulate growth in America was largely driven by the desire to protect nascent American industries from foreign competition, particularly in the early 19th century. Proponents argued that tariffs would encourage domestic manufacturing by making imported goods more expensive, thereby boosting local production and job creation. This economic strategy was particularly championed by figures like Alexander Hamilton, who believed that a strong manufacturing sector was essential for national independence and prosperity.
Townshend Acts when refering to American History around the time of the American Revolution
protectionism
Taxes on foreign imported foods are commonly referred to as "tariffs." Tariffs are imposed by governments to regulate trade, protect domestic industries, and generate revenue. They can vary in rate depending on the type of food and the country of origin.
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The keystone to what Henry Clay called the American System was a high tariff to generate revenue for the federal government and protect industries.
Franklin D. Roosevelt
!! Franklin D. Roosevelt!!
tariffs
tariffs