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- Infant industry - Firms just starting up will face higher costs than established foreign competitors which have gained economies of scale. Tariffs should therefore be erected to protect the firm and then removed once it has grown.
- Job protection - Protectionism can create or preserve jobs which would otherwise be outsourced to other countries with a lower wage rate.
- Dumping - Dumping is the sale of goods in an other country below their cost of production. There are a number of reasons why they may do this:
- They may have produced goods and have no demand.
- They may have excess capacity in the short run.
- They may wish to force out domestic suppliers so that they can enjoy supernormal profits.
What else can I help you with?
Why did nothern farmers favor protective tariffs?
to reduce competition from foreign grain producers.
Which groups tended to favor tariffs?
Northern industrialists favored tariffs.
Why did the northerners favor the protective tariffs of the 1820s while southerners detested them?
Northerners favored the protective tariffs of the 1820s because these tariffs benefited their emerging manufacturing industries by making imported goods more expensive, encouraging consumers to buy domestically produced items. In contrast, southerners detested these tariffs as they relied heavily on imported goods and were concerned that higher prices would hurt their economy. Additionally, they felt that the tariffs favored northern interests at the expense of southern agricultural economies, leading to tensions between the regions.
What encouraged Americans to buy America made goods?
Protective tariffs
Why did Governor Hayne of The North higher tariffs because tariffs . The South higher tariffs because tariffs South Carolina favor states' rights?
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Why did nothern farmers favor protective tariffs?
to reduce competition from foreign grain producers.
Northern and southern Farmer's Alliance had different views on?
protective tariffs - apex
Those who favor protective tariffs argue that?
protecting domestic industries from foreign competition. all of the above (NovaNet)
What is specialization restricted by in the global economy?
Protective tariffs
Why did northerners favor protective tariffs?
To reduce competition from foreign grain producers. Northern America industrialists increase the demand for American. This is for manufactured goods.
Which groups tended to favor tariffs?
Northern industrialists favored tariffs.
What affect did the protective tariffs have on the American economy?
Protective tariffs had a few effects in the American economy. The main effect that it had was pricing.
Why were protective tariffs established?
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Did the south favor low tariffs?
yes.
Why In 1833 South Carolina threatened to secede from the Union if?
Congress continued to raise protective tariffs.
Was the south in favor of tariffs?
No; the South depended on exporting cotton and US tariffs would have invited tariffs in the countries to which they exported.
Why did the northerners favor the protective tariffs of the 1820s while southerners detested them?
Northerners favored the protective tariffs of the 1820s because these tariffs benefited their emerging manufacturing industries by making imported goods more expensive, encouraging consumers to buy domestically produced items. In contrast, southerners detested these tariffs as they relied heavily on imported goods and were concerned that higher prices would hurt their economy. Additionally, they felt that the tariffs favored northern interests at the expense of southern agricultural economies, leading to tensions between the regions.
