2 History-Tariffs

melgallagher
Flashcards by melgallagher, updated more than 1 year ago
melgallagher
Created by melgallagher about 7 years ago
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AQA

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Question Answer
What are tariffs? Taxes placed on imported goods.
What was the Fordney-McCumber tariff and why was it made? Republicans wanted to out compete foreign goods so put large tariffs on imports. They ranged from 40-400%.
What is protectionism? US goods were cheaper than foreign made goods.
How many times were tariffs raised in the 1920's? 32. This was good for American firms in the short term then hurt them later when other countries retaliated.
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