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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.
What is the protective tariff of 1816?
The protective Tariff of 1816 is also known as the Dallas Tariff. It is noteworthy because it marks the first time that congress passed a tariff to protect American manufacturers instead of just to raise money.
What is an example of a protective tariff?
An example of a protective tariff is seen in the importation of oranges. Citrus fruit does not readily grow everywhere, and South American countries often produce massive quantities for export. If a country can produce oranges but can import them from South America cheaper than growing them domestically, a protective tariff might be applied. This tariff will inflate the price of the imported oranges so that they are equal to or higher than the price of domestic oranges. This helps domestic companies compete with international companies.
What is a duty paid on particular class of goods?
tariff
What are tariff taxes and how are they used by the government?
The tax of imported goods and services is called Tariff. This is imposed to control or limit trades and as a source of revenue or income for governments.
What is the purpose of a purpose of a protective tariff?
protect home industries from foreign competition
The purpose of a protective tariff is to?
protect home industries from foreign competition
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 is a tax placed on goods from another country to protect the home industry?
protective tariff
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.
What was the high tariff to limit foreign competition?
A high tariff to limit foreign competition is called a protective tariff.
How might a country react to another country's protective tariff?
Sometimes a country suffering from a protective tariff will enact a tariff of its own on a product.
What was the nickname that southerns gave to a protective tariff they opposed?
Tariff of abominations
What is specialization restricted by in the global economy?
Protective tariffs
First protective tariff?
1816
Was Thomas Jefferson for the protective tariff?
No
Was Hamilton for protective tariff?
yes he was
