United States Tariff History: Difference between revisions
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During the turn of the century, agriculture dominated the US economy. The US experienced low rates on imported goods (5-10 %) yet high custom duties (80-90 %). | During the turn of the century, agriculture dominated the US economy. The US experienced low rates on imported goods (5-10 %) yet high custom duties (80-90 %). | ||
'''War of 1812''' | |||
*The war caused poor relations between the United States, Great Britain and France | |||
*In response, the US federal government implemented a stuff excise tax to compensate for debt | |||
'''Tariff of 1816''' | |||
''The Madison Administration'' | |||
*The US experienced a sole dependence on struggling internalized markets | |||
*Great Britain dumped cheap goods which were smuggled from New England factories during the war | |||
*These goods were sold cheaply in the United States, which hurt the US markets even more | |||
* | |||
Revision as of 00:18, 27 April 2006
1800's
During the turn of the century, agriculture dominated the US economy. The US experienced low rates on imported goods (5-10 %) yet high custom duties (80-90 %).
War of 1812
- The war caused poor relations between the United States, Great Britain and France
- In response, the US federal government implemented a stuff excise tax to compensate for debt
Tariff of 1816 The Madison Administration
- The US experienced a sole dependence on struggling internalized markets
- Great Britain dumped cheap goods which were smuggled from New England factories during the war
- These goods were sold cheaply in the United States, which hurt the US markets even more
