A protective tariff is a tariff or tax imposed on goods imported from other countries in an effort to "protect" goods made within the country. It makes foreign goods more expensive than local goods and hopefully less appealing to buy. As a result, the protective tariff helped American industries financially by luring the people with lower prices. Many debates in American history have arisen over whether it is the government's place to attempt to narrow the options of consumers in this way. A tariff is a tax on foreign goods. ... A tax (also known as a duty) is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (e. ...
This tariff was Alexander Hamilton's first answer to pay off debts in the United States.
see Tariff in American history Louis XIV Financial minister Jean-Baptiste Colbert also introduced protective tariffs in attempt to improve French finances in the 1600's. It was also used in France, when it began its Industrial Revolution, to protect its economy. It has been suggested that Tariff in American history be merged into this article or section. ...
The protectivetariff is a device for enhancing the home price of the articles it covers by a tax on commerce, by forcing the body of citizens to pay tribute to producers at home.
Moreover, as a matter of fact, the protectivetariff yields little gain to the laborer, because continued immigration brings him new competitors and because he is in his turn one of the general public who suffer from the commerce tax.
The tariff is defended on the ground of the value to the growing nation of the advancement of infant industries—of the development of diversified economies.
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