This article is about a tariff law. For the merchant marine law, see Dingley Act (shipping).
Illustration showing a troop of senators as Confederate soldiers, led by an officer on horseback labeled "Trusts", marching down a street past the house with "Barbara Fritchie" labeled "Dingley Tariff" leaning out the window, waving a flag labeled "High Protection", Puck, February 1905
The Dingley Act of 1897 (ch. 11, 30Stat.151, July 24, 1897), introduced by U.S. RepresentativeNelson Dingley Jr., of Maine, raised tariffs in United States to counteract the Wilson–Gorman Tariff Act of 1894, which had lowered rates. The bill came into effect under William McKinley the first year that he was in office. The McKinley administration wanted slowly to bring back the protectionism that was proposed by the Tariff of 1890.
Following the election of 1896, McKinley followed through with his promises for protectionism. Congress imposed duties on wool and hides which had been duty-free since 1872. Rates were increased on woollens, linens, silks, china, and sugar (the tax rates for which doubled). The Dingley Tariff remained in effect for twelve years, making it the longest-lasting tariff in U.S. history. It was also the highest in US history, averaging about 52% in its first year of operation. Over the life of the tariff, the rate averaged at around 47%.[1]
The Tariff Act of 1930, commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was a law that implemented protectionist trade policies in the United States. Sponsored by Senator Reed Smoot and Representative Willis C. Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods.
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes foreign products to encourage or safeguard domestic industry. Protective tariffs are among the most widely used instruments of protectionism, along with import quotas and export quotas and other non-tariff barriers to trade.
The Walker Tariff was a set of tariff rates adopted by the United States in 1846. Enacted by the Democrats, it made substantial cuts in the high rates of the "Black Tariff" of 1842, enacted by the Whigs. It was based on a report by Secretary of the Treasury Robert J. Walker.
The Morrill Tariff was an increased import tariff in the United States that was adopted on March 2, 1861, during the administration of US President James Buchanan, a Democrat. It was the twelfth of the seventeen planks in the platform of the incoming Republican Party, which had not yet been inaugurated, and the tariff appealed to industrialists and factory workers as a way to foster rapid industrial growth.
The Tariff Act of 1890, commonly called the McKinley Tariff, was an act of the United States Congress, framed by then Representative William McKinley, that became law on October 1, 1890. The tariff raised the average duty on imports to almost 50%, an increase designed to protect domestic industries and workers from foreign competition, as promised in the Republican platform. It represented protectionism, a policy supported by Republicans and denounced by Democrats. It was a major topic of fierce debate in the 1890 Congressional elections, which gave a Democratic landslide.
The Revenue Act or Wilson-Gorman Tariff of 1894 slightly reduced the United States tariff rates from the numbers set in the 1890 McKinley tariff and imposed a 2% tax on income over $4,000. It is named for William L. Wilson, Representative from West Virginia, chair of the U.S. House Ways and Means Committee, and Senator Arthur P. Gorman of Maryland, both Democrats.
The Payne–Aldrich Tariff Act of 1909, named for Representative Sereno E. Payne (R–NY) and Senator Nelson W. Aldrich (R–RI), began in the United States House of Representatives as a bill raising certain tariffs on goods entering the United States. The high rates angered Republican reformers, and led to a deep split in the Republican Party.
The Fordney–McCumber Tariff of 1922 was a law that raised American tariffs on many imported goods to protect factories and farms. The US Congress displayed a pro-business attitude in passing the tariff and in promoting foreign trade by providing huge loans to Europe. That, in turn, bought more US goods. However, five years after the passage of the tariff, American trading partners had raised their own tariffs by a significant degree. France raised its tariffs on automobiles from 45% to 100%, Spain raised its tariffs on American goods by 40%, and Germany and Italy raised their tariffs on wheat. According to the American Farm Bureau, farmers lost more than $300 million annually as a result of the tariff.
Free trade is a trade policy that does not restrict imports or exports. In government, free trade is predominantly advocated by political parties that hold economically liberal positions, while economic nationalist and left-wing political parties generally support protectionism, the opposite of free trade.
Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations. Proponents argue that protectionist policies shield the producers, businesses, and workers of the import-competing sector in the country from foreign competitors and raise government revenue. Opponents argue that protectionist policies reduce trade, and adversely affect consumers in general as well as the producers and workers in export sectors, both in the country implementing protectionist policies and in the countries against which the protections are implemented.
The Panic of 1893 was an economic depression in the United States that began in 1893 and ended in 1897. It deeply affected every sector of the economy and produced political upheaval that led to the political realignment of 1896 and the presidency of William McKinley.
William Lyne Wilson was an American politician and lawyer from West Virginia. A Bourbon Democrat, he was elected to the United States Congress in 1882 and served six terms of office, ending in 1895.
Frank William Taussig (1859–1940) was an American economist who is credited with creating the foundations of modern trade theory.
The Tariff of 1833, enacted on March 2, 1833, was proposed by Henry Clay and John C. Calhoun as a resolution to the Nullification Crisis. Enacted under Andrew Jackson's presidency, it was adopted to gradually reduce the rates following Southerners' objections to the protectionism found in the Tariff of 1832 and the 1828 Tariff of Abominations; the tariffs had prompted South Carolina to threaten secession from the Union. This Act stipulated that import taxes would gradually be cut over the next decade until, by 1842, they matched the levels set in the Tariff of 1816—an average of 20%. The compromise reductions lasted only two months into their final stage before protectionism was reinstated by the Black Tariff of 1842.
The Tariff of 1842, or Black Tariff as it became known, was a protectionist tariff schedule adopted in the United States. It reversed the effects of the Compromise Tariff of 1833, which contained a provision that successively lowered the tariff rates from their level under the Tariff of 1832 over a period of ten years until the majority of dutiable goods were to be taxed at 20%.
The Tariff of 1832 was a protectionist tariff in the United States. Enacted under Andrew Jackson's presidency, it was largely written by former President John Quincy Adams, who had been elected to the House of Representatives and appointed chairman of the Committee on Manufactures. It reduced the existing tariffs to remedy the conflict created by the Tariff of 1828, but it was still deemed unsatisfactory by some in the South, especially in South Carolina. South Carolinian opposition to this tariff and its predecessor, the Tariff of Abominations, caused the Nullification crisis. As a result of this crisis, the 1832 Tariff was replaced by the Compromise Tariff of 1833.
Herbert Mayhew Lord was United States Army officer and public official. He was most notable for his service as the Army's Director of Finance during World War I and the Director of the United States Bureau of the Budget from 1922 to 1929.
Tariffs have historically served a key role in the trade policy of the United States. Their purpose was to generate revenue for the federal government and to allow for import substitution industrialization by acting as a protective barrier around infant industries. They also aimed to reduce the trade deficit and the pressure of foreign competition. Tariffs were one of the pillars of the American System that allowed the rapid development and industrialization of the United States. The United States pursued a protectionist policy from the beginning of the 19th century until the middle of the 20th century. Between 1861 and 1933, they had one of the highest average tariff rates on manufactured imports in the world. However American agricultural and industrial goods were cheaper than rival products and the tariff had an impact primarily on wool products. After 1942 the U.S. began to promote worldwide free trade, but after the 2016 presidential election has gone back to protectionism.
The presidency of William McKinley began on March 4, 1897, when William McKinley was inaugurated and ended September 14, 1901, upon his assassination. A longtime Republican, McKinley is best known for conducting the successful Spanish–American War (1898), freeing Cuba from Spain; taking ownership of the Republic of Hawaii; and purchasing the Philippines, Guam and Puerto Rico. It includes the 1897 Dingley Tariff which raised rates to protect manufacturers and factory workers from foreign competition, and the Gold Standard Act of 1900 that rejected free silver inflationary proposals. Rapid economic growth and a decline in labor conflict marked the presidency and he was easily reelected.
Protectionism in the United States is protectionist economic policy that erects tariffs and other barriers on imported goods. In the US this policy was most prevalent in the 19th century. At that time it was mainly used to protect Northern industries and was opposed by Southern states that wanted free trade to expand cotton and other agricultural exports. Protectionist measures included tariffs and quotas on imported goods, along with subsidies and other means, to restrain the free movement of imported goods, thus encouraging local industry.
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