What is Fordney-McCumber act?

Answer 1

The Fordney-McCumber Act, enacted in 1922, was a significant piece of legislation in the United States that raised tariffs on imported goods to protect domestic industries. It aimed to promote American manufacturing by making foreign products more expensive, thereby encouraging consumers to buy American-made goods. The act also included provisions for the adjustment of tariffs based on changing economic conditions. Its implementation contributed to the economic climate leading up to the Great Depression by fostering isolationist and protectionist policies.