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In certain situations, throughout the 19th and 20th centuries, tariffs have always been a subject of nations' economic progress. Tariffs area tax on imported products and the US government has control over tariffs. When tariffs are abused it forces consumers to pay more for imported goods. This often times helps domestic companies which because of tariffs forces people to buy from them.There was a period of time in 19th century US, where the Southern populations was forced to buy goods from Northern factories, at a higher price than would otherwise be except for these "protective" tariffs. It also was a strain on the entire economy.
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How did high tariffs contribute to the stock market crash?
. They damaged the U.S. economy by angering foreign trade partners
How do high tariffs help America?
High tariffs are supposed to help the American economy because they place taxes on imported goods. Tariffs promote the purchasing of American-made goods because they are sold at a lower price, without the tariff. Also, if people decide to buy foreign goods instead, then the government makes money from the tariffs that were paid.
What was one result of high US tariffs on imported goods?
One effect of high American tariffs caused foreign trade to almost stop. This had other countries angry with the US, which caused them to stop buying US goods and they raised their tariffs, which had a effect on the American economy.
How did reformers differ from the republicans on the issue of high tariffs?
The republicans supported higher tariffs while the reformers within the GOP supported lower tariffs. Reformers believed that high tariffs actually helped trusts.
What did Republicans believe about high tariffs?
Tariffs allowed American industries to grow.
