0
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 else can I help you with?
Why did the smoot-hawlay tariff act backfire?
The act brought retaliatory tariff acts from foreign countries, U.S. foreign trade suffered a sharp decline, and the depression (etc...)
What was the Fordney-McCumber Tariff?
The Fordney-McCumber Tariff of 1922 was a law in the United States that created a Tariff Commission to raise or lower rates by 50%. This was a post-World War I Republican defense against expected Europeans exports. Retaliatory tariffs sprang up.
What tariff legislation was passed by the US Congress in 1930?
In 1930, for example, the U.S. Congress passed the Hawley-Smoot Tariff Act.
What is a tax placed on goods from another country to protect the home industry?
protective tariff
What is the tariff that southerners viewed as helping the north at the south's exspense?
Tariff of Abominations
Retaliatory tariff is?
A retaliatory tariff is a tax that is imposed by one country because Another Country increased their tax rate. This is an act that is done in retaliation.
Which is the purpose of a retaliatory tariff?
A retaliatory tariff is a tax that is imposed by one country because another country increased their tax rate. This is an act that is done in retaliation.
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 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
What type of tariff is used to fight against protectionist policies by another country?
Retaliatory.
Why did the smoot-hawlay tariff act backfire?
The act brought retaliatory tariff acts from foreign countries, U.S. foreign trade suffered a sharp decline, and the depression (etc...)
An example of a tarrif on a us product?
One example of a tariff on a U.S. product is the tariff imposed on steel and aluminum imports under Section 232 of the Trade Expansion Act of 1962. In 2018, the U.S. government implemented a 25% tariff on steel and a 10% tariff on aluminum imports from various countries, citing national security concerns. This policy aimed to protect domestic producers from foreign competition but also sparked trade tensions and retaliatory tariffs from affected countries.
What was Fordney-McCumber tariff?
The Fordney-McCumber Tariff of 1922 was a law in the United States that created a Tariff Commission to raise or lower rates by 50%. This was a post-World War I Republican defense against expected Europeans exports. Retaliatory tariffs sprang up.
What is retaliatory duty?
My interpretation is when someone gives one some kind of "crappy" chore to do when they are mad at them or to get back at them for doing something someone didnt like.
What is an example of a protectionist trade policy?
An example is a protectionist trade policy would be a tariff on imports, or quotas on the volume of imports.
What was the Fordney- McCumber Tariff?
The Fordney-McCumber Tariff of 1922 was a law in the United States that created a Tariff Commission to raise or lower rates by 50%. This was a post-World War I Republican defense against expected Europeans exports. Retaliatory tariffs sprang up.
What is a real world example of a tariff?
Chevey has put a tariff on a Ford truck.
