Tariff Description
After 450 amendments, the Tariff Act of 1890 was passed, and increased average duties across all imports from 38% to 49.5%. McKinley was known as the “Napoleon of Protection,” and the act reflected this sentiment. It raised rates on some goods and lowered rates on others, always attempting to protect American manufacturing interests. Changes in duties for specific products such as tin-plates and wool were the most controversial, and emblematic of the spirit of the Tariff of 1890. However, on certain items, the Act eliminated tariffs altogether, with the threat of reinstatement as an enticement to get other countries to lower their tariffs on items imported from the U.S.
Read more about this topic: McKinley Tariff
Famous quotes containing the words tariff and/or description:
“After so many historical illustrations of the evil effects of abandoning the policy of protection for that of a revenue tariff, we are again confronted by the suggestion that the principle of protection shall be eliminated from our tariff legislation. Have we not had enough of such experiments?”
—Benjamin Harrison (1833–1901)
“As they are not seen on their way down the streams, it is thought by fishermen that they never return, but waste away and die, clinging to rocks and stumps of trees for an indefinite period; a tragic feature in the scenery of the river bottoms worthy to be remembered with Shakespeare’s description of the sea-floor.”
—Henry David Thoreau (1817–1862)