Some economic theories hold that tariffs are a harmful interference with the individual freedom and the laws of the free market. They believe that it is unfair toward consumers and generally disadvantageous for a country to artificially maintain an inefficient industry, and that it is better to allow it to collapse and to allow a new one to develop in its place. The opposition to all tariffs is part of the free trade principle; the World Trade Organization aims to reduce tariffs and to avoid countries discriminating be ...

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Tariff, Tariff - Economic Analysis, Tariff - Infant Industry Argument, Tariff - Tariff in American History, Tariff - Low Tariff Policy 1913 to Present

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See also:

Tariff, Tariff - Economic Analysis, Tariff - Infant Industry Argument, Tariff - Tariff in American History, Tariff - Low Tariff Policy 1913 to Present

Read more here: » Tariff: Encyclopedia II - Tariff - Tariff in American History

Definition and meaning of protective tariff:

protective tariff

Congress passed the first protective tariff act in 1816. Protective tariffs were designed to protect America's infant industries from the competition of less expensive foreign imports, thus making the nation's economy more self-sufficient.

(Source: Madrid Waddington High School )

Also see these pages:  American History, American History Sitemap, History, History Sitemap

Some economic theories hold that tariffs are a harmful interference with the individual freedom and the laws of the free market. They believe that it is unfair toward consumers and generally disadvantageous for a country to artificially maintain an inefficient industry, and that it is better to allow it to collapse and to allow a new one to develop in its place. The opposition to all tariffs is part of the free trade principle; the World Trade Organization aims to reduce tariffs and to avoid countries discriminating be ...

See also:

Tariff, Tariff - Economic analysis, Tariff - Infant industry argument, Tariff - History of Tariffs, Tariff - United States

Read more here: » Tariff: Encyclopedia II - Tariff - Economic analysis

Tariff - United States. Main article: Tariff in American history ...

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Tariff, Tariff - Economic analysis, Tariff - Infant industry argument, Tariff - History of Tariffs, Tariff - United States

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According to historian Heather Cox Richardson, Morrill intended to offer protection to both the usual manufacturing recipients and a broad group of agricultural interests. The purpose was to appease interests beyond the northeast, which traditionally supported protection. For the first time protection was extended to every major farm product. Planning to distribute the benefits of a tariff to all sectors of the economy, and also hoping to broaden support for his party, Morrill rejected the traditional system of protection by proposing ...

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Morrill tariff, Morrill tariff - Background, Morrill tariff - Impact, Morrill tariff - Morrill's own objectives, Morrill tariff - Relation to the secession controversy, Morrill tariff - Charles Dickens versus Karl Marx: the British debate, Morrill tariff - American historians weigh in, Morrill tariff - Footnotes

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Frank Taussig, whose work "The Tariff History of the United States" is recognized as the foremost authority on the subject wrote: "In 1857 duties were still further reduced, the rate on most protected commodities going down to 24 per cent., and remaining at this comparatively low level until the outbreak of the Civil War." Taussig goes on to say: It is true that the first steps towards a policy of higher protection were taken just before the war began. In the session of 1860-61, immediately preceding the outbreak of the conflict, the ...

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Morrill tariff, Morrill tariff - Background, Morrill tariff - Impact, Morrill tariff - Morrill's own objectives, Morrill tariff - Relation to the secession controversy, Morrill tariff - Charles Dickens versus Karl Marx: the British debate, Morrill tariff - American historians weigh in, Morrill tariff - Footnotes

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Trade sanctions are frequently retaliatory in nature. For example, in 2002 the United States placed import tariffs on steel in an effort to protect its industry from more efficient foreign producers, such as China and Russia. The WTO ruled that these tariffs were illegal. The European Union threatened retaliatory tariffs on a range of US goods, forcing the US government to remove the steel tariffs in early 2004. Economic sanctions frequently result in trade wars. The World Tra ...

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Trade sanctions, Trade sanctions - Politics of trade sanctions, Trade sanctions - Recent historical examples of trade sanctions

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Transatlantic relations - U.S. steel tariffs. In 2002, the U.S. imposed steel tariffs to protect its steel industry. The European Union and other countries took up the issue with the WTO, which ruled that such tariffs breach its regulations. Subsequently, by December 2003, the tariffs had been lifted by the U.S. administration. ...

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Transatlantic relations, Transatlantic relations - Issues of contention, Transatlantic relations - Arms embargo on the People's Republic of China, Transatlantic relations - Boeing and Airbus subsidies, Transatlantic relations - Death penalty, Transatlantic relations - International Criminal Court, Transatlantic relations - Israel-Palestine conflict, Transatlantic relations - Iran and weapons of mass destruction, Transatlantic relations - Iraq war, Transatlantic relations - Kyoto protocol, Transatlantic relations - Resolved issues, Transatlantic relations - U.S. steel tariffs, Transatlantic relations - Possible issues, Transatlantic relations - CIA flights and jails

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The protective tariff, passed by Congress and signed into law by Jackson in 1832, was milder than that of 1828, but it further embittered many in the state. In response, a number of South Carolina citizens endorsed the states' rights principle of "nullification," which was enunciated anonymously by John C. Calhoun, Jackson's vice president until 1833, in his South Carolina Exposition and Protest (1828). South Carolina dealt with the tariff by adopting the Ordinance of Nullification, which declared both the tariffs of 1828 and 1832 null and v ...

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Nullification Crisis, Nullification Crisis - Background, Nullification Crisis - Start, Nullification Crisis - Federal answer, Nullification Crisis - End

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Responding to the urgent need for revenue following the American Revolutionary War, the First Congress passed and President George Washington signed the Tariff Act of July 4, 1789, which authorized the collection of duties on imported goods. Four weeks later, on July 31, the fifth act of Congress established the United States Customs Service and its ports of entry. For over 100 years after its birth, the U.S. Customs Service was the primary source of funds for the entire government, and paid for the nation's early growth and infrastru ...

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U.S. Customs and Border Protection, U.S. Customs and Border Protection - History of the U.S. Customs Service, U.S. Customs and Border Protection - History of the Immigration and Naturalization Service

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The development of the modern Greek economy began in the late 19th and early 20th centuries with the adoption of social and industrial legislation and protective tariffs and the creation of the first industrial enterprises. Industry at the turn of the century consisted primarily of food processing, shipbuilding, and the manufacture of textiles and simple consumer products. Greece achieved high rates of growth in the late 1960s and early 1970s due to large foreign investments. In the mid-1970s, Greece suffered declines in its GDP growt ...

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Economy of Greece, Economy of Greece - Recent economic history, Economy of Greece - Principal sectors, Economy of Greece - EU membership

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Fledgeling industries typically require protection from the government in the form of tariffs, quotas, or subsidies in order to survive the lower prices and higher quality of the good or service produced by the industry on the international market. Proponents of the infant industry argument theorize that protectionism will allow the infant industry to grow and develop to the point at which it can compete on the international market without protectionist measures. Nurturing infant industries and import substitution policies often occur i ...

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Infant industry argument, Infant industry argument - Reasons for protectionism, Infant industry argument - Reasons against protectionism

Read more here: » Infant industry argument: Encyclopedia II - Infant industry argument - Reasons for protectionism

There is no tariff on goods entering Hong Kong, but excise duties are charged on four groups of commodities. These commodities are hydrocarbon oil, liquor, methyl alcohol and tobacco. These duties make no differentiation between imported commodities, or commodities manufactured locally for domestic consumption. In 2003, the C&ED collected $6,484 million excise duty. Under the Dutiable Commodities Ordinance, the C&ED controls breweries, distilleries, tobacco factories, oil installations, ship and aircraft duty-free stores, and ...

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Customs and Excise Department, Customs and Excise Department - Overview, Customs and Excise Department - Protection of revenue, Customs and Excise Department - Prevention and detection of smuggling, Customs and Excise Department - Airport, Customs and Excise Department - Harbour, Customs and Excise Department - Land boundary, Customs and Excise Department - Anti-narcotics operations, Customs and Excise Department - Trade controls and consumer protection, Customs and Excise Department - Intellectual property rights protection, Customs and Excise Department - Customs cooperation, Customs and Excise Department - Seizures and prosecutions

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The Treaty of Kanghwa forcibly opened Korea to foreign trade with little restraint from tariffs, and so rapid social, scientific, technological change occurred as foreign nations targeted essential Korean strategic resources, materiel, and the west saw opportunity to very quickly Christianize Korea through missionary activity. Japan sought increasingly to use Korea as a source of cheap if not free resources as China's protection for Korea weakened after Chinese naval defeats. Debate raged amongst the yangban class of scholars on how Korea co ...

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Donghak Peasant Revolution, Donghak Peasant Revolution - The context of the revolt, Donghak Peasant Revolution - The figures of the revolt

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In 1990, the administration of President César Gaviria Trujillo (1990-94) initiated economic liberalization or "apertura," and this has continued since then, with tariff reductions, financial deregulation, privatization of state-owned enterprises, and adoption of a more liberal foreign exchange rate. Almost all sectors became open to foreign investment although agricultural products remained protected. The original idea of his Minister of Finance, Rudolf Hommes, was that the country should import agricultural products in which it was ...

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Economy of Colombia, Economy of Colombia - History, Economy of Colombia - Mining and Energy, Economy of Colombia - Trade, Economy of Colombia - Foreign Investment, Economy of Colombia - Statistics, Economy of Colombia - Notes

Read more here: » Economy of Colombia: Encyclopedia II - Economy of Colombia - History

General Motors Diesel, Limited, was created in 1949 as the Canadian subsidiary of the Electro Motive Division of General Motors located in the United States. Tariffs protected Canadian manufacturers against imported goods, thus many companies wanting to do business in Canada set up controlled or wholly-owned subsidiaries in Canada. Montreal Locomotive Works (MLW) in Montreal, Quebec, was created for just this reason building steam locomotives and later diesel (diesel-electric) locomotives to the designs of U.S. parent Alco (American L ...

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General Motors Diesel, General Motors Diesel - History, General Motors Diesel - External link

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Worldwide there have been many examples of such disputes and associated sanctions. For example, American steel companies requested, and were at times granted, protection from steel imports that they claimed enjoyed an unfair advantage due to the economic policy of the steel exporting country. At times it was asserted that the exporting company was dumping steel overseas (in the USA) at below cost. See United States steel tariff 2002 Again, as the Asian economies became more and more effective competitors on the international stage, ac ...

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Trade sanctions, Trade sanctions - Politics of trade sanctions, Trade sanctions - Recent historical examples of trade sanctions

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Some hold that American Producerism has its roots in the populist politics of Andrew Jackson and in the tariffs and protections of Henry Clay's American System, even though these two figures were political rivals. Others look even further back in history, to the farmers' rebellions of the post-colonial period and the Presidency of Jefferson, who has been described as originating or at least adopting the rhetoric of producerism while enacting policies antit ...

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Producerism, Producerism - General Position, Producerism - A Debated History and an Uncertain Present, Producerism - Relation to Other Ideologies, Producerism - Position on Religion and Social Issues, Producerism - Split Attitutes towards both Unions and Business, Producerism - Disputing the Producerist Label

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Following the defeat of Indira Gandhi's Congress Party in the 1977 elections that ended the Indian Emergency, H.M. Patel was appointed the Finance Minister by the new Prime Minister Morarji Desai, who was leading India's first non-Congress administration. He changed many of India's socialist economic policies, ending barriers to foreign investment and reducing tariffs while protecting home industries. He was responsible for the policy that all foreign companies must form corporations with an Indian company holding 50% stake, which caused Coca Cola to pull o ...

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H.M. Patel, H.M. Patel - Early Life, H.M. Patel - Cabinet Secretary, H.M. Patel - Political Career, H.M. Patel - Janata, H.M. Patel - Anecdotes

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