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Black Tariff
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%. As the 20% level approached in 1842, industrial interests and members of the Whig Party began clamoring for protection by claiming that the reductions left them vulnerable to European competition. The bill restored protection and raised average tariff rates to almost 40% and stipulated sweeping changes to the tariff schedule and collection system, most of which were designed to augment its protective character. It also replaced most ad valorem rates with specific duties, assessed on a good-by-good basis, and replaced the credit system of tariff finance with a cash payment system, collected at portsi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protectionism In The United States
Protectionism in the United States is protectionist economic policy that erects tariffs and other barriers on imported goods. This policy was most prevalent in the 19th century. At that time, it was mainly used to protect Northern United States, Northern industries and was opposed by Southern United States, Southern states that wanted free trade to expand cotton and other agricultural exports. Protectionist measures included tariffs and Import quota, quotas on imported goods, along with subsidies and other means, to restrain the free movement of imported goods, thus encouraging local industry. There was a general lessening of protectionist measures from the 1930s onwards, culminating in the free trade period that followed the Second World War. After the war, the United States promoted the General Agreement on Tariffs and Trade (GATT), to liberalize trade among all capitalist countries. In 1995, GATT became the World Trade Organization (WTO), and with the collapse of Communism i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff
A tariff or import tax is a duty (tax), duty imposed by a national Government, government, customs territory, or supranational union on imports of goods and is paid by the importer. Exceptionally, an export tax may be levied on exports of goods or raw materials and is paid by the exporter. Besides being a source of revenue, import duties can also be a form of regulation of International trade, foreign trade and policy that burden 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. Tariffs can be fixed (a constant sum per unit of imported goods or a percentage of the price) or variable (the amount varies according to the price). Tariffs on imports are designed to raise the price of imported goods to discourage consumption. The intention is for citizens to buy local products instead, which, according to support ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States
The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 contiguous states border Canada to the north and Mexico to the south, with the semi-exclave of Alaska in the northwest and the archipelago of Hawaii in the Pacific Ocean. The United States asserts sovereignty over five Territories of the United States, major island territories and United States Minor Outlying Islands, various uninhabited islands in Oceania and the Caribbean. It is a megadiverse country, with the world's List of countries and dependencies by area, third-largest land area and List of countries and dependencies by population, third-largest population, exceeding 340 million. Its three Metropolitan statistical areas by population, largest metropolitan areas are New York metropolitan area, New York, Greater Los Angeles, Los Angel ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Compromise Tariff
The Tariff of 1833 (also known as the Compromise Tariff of 1833, ch. 55, ), 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. Background The Tariff of 1828 The Tariff of 1828, enacted on May 19, 1828, was a protective tariff passed by the U.S. Congress. It was the highest tariff in U.S. peacetime history up to that point, enactin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff Of 1832
The Tariff of 1832 ( 22nd Congress, session 1, ch. 227, , enacted July 14, 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 Abominations, but it was still deemed unsatisfactory by some in the Southern United States The Southern United States (sometimes Dixie, also referred to as the Southern States, the American South, the Southland, Dixieland, or simply the South) is List of regions of the United States, census regions defined by the United States Cens ..., especially in South Carolina, causing the Nullification crisis. As a result of this crisis, the 1832 Tariff was replaced by the Compromise Tariff of 1833.Frank Taussig, ''Tariff History of the United States'' (1912online ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Whig Party
The Whig Party was a mid-19th century political party in the United States. Alongside the Democratic Party, it was one of two major parties from the late 1830s until the early 1850s and part of the Second Party System. As well as four Whig presidents (William Henry Harrison, John Tyler, Zachary Taylor, and Millard Fillmore), other prominent members included Henry Clay, Daniel Webster, Rufus Choate, William Seward, John J. Crittenden, and John Quincy Adams (whose presidency ended prior to the formation of the Whig Party). The Whig base of support was amongst entrepreneurs, professionals, Protestant Christians (particularly Evangelicals), the urban middle class, and nativists. It had much less backing from poor farmers and unskilled workers. The party was hostile towards the ideology of "manifest destiny", territorial expansion into Texas and the Southwest, and the Mexican–American War. It disliked presidential power, as exhibited by Andrew Jackson and James K. Polk, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ad Valorem
An ''ad valorem'' tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of a property. It is typically imposed at the time of a transaction, as in the case of a sales tax or value-added tax (VAT). An ''ad valorem'' tax may also be imposed annually, as in the case of a real or personal property tax, or in connection with another significant event (e.g. inheritance tax, expatriation tax, or tariff). In some countries, a stamp duty is imposed as an ''ad valorem'' tax. Operation All ad valorem taxes are collected according to the determined value of the taxed item. In the most common application of ad valorem taxes, namely municipal property taxes, public tax assessors regularly assess the property owner's real estate in order to determine its current value. The determined value of the property is used to calculate the annual tax collected by the municipality or any other government entity upon the property owner. Ad valorem taxes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Tyler
John Tyler (March 29, 1790 – January 18, 1862) was the tenth president of the United States, serving from 1841 to 1845, after briefly holding office as the tenth vice president of the United States, vice president in 1841. He was elected vice president on the 1840 United States presidential election, 1840 Whig Party (United States), Whig ticket with President William Henry Harrison, succeeding to the presidency following Harrison's death 31 days after assuming office. Tyler was a stalwart supporter and advocate of states' rights, including regarding Slavery in the United States, slavery, and he adopted nationalistic policies as president only when they did not infringe on the states' powers. His unexpected rise to the presidency posed a threat to the presidential ambitions of Henry Clay and other Whig politicians and left Tyler estranged from both of the nation's major political parties at the time. Tyler was born into a prominent slaveholding Virginia family. He became a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Henry Clay
Henry Clay (April 12, 1777June 29, 1852) was an American lawyer and statesman who represented Kentucky in both the United States Senate, U.S. Senate and United States House of Representatives, House of Representatives. He was the seventh Speaker of the United States House of Representatives, House speaker as well as the ninth United States Secretary of State, secretary of state. He unsuccessfully ran for president in the 1824 United States presidential election, 1824, 1832 United States presidential election, 1832, and 1844 United States presidential election, 1844 elections. He helped found both the National Republican Party and the Whig Party (United States), Whig Party. For his role in defusing sectional crises, he earned the appellation of the "Great Compromiser" and was part of the "Great Triumvirate" of Congressmen, alongside fellow Whig Daniel Webster and Democratic Party (United States), Democrat John C. Calhoun. Clay was born in Hanover County, Virginia, Virginia, in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bluffton Movement
The Bluffton Movement was spawned during a political rally held under the "Secession Oak" in the village of Bluffton, South Carolina, on July 31, 1844.Jeff Fulgham, ''The Bluffton Expedition: The Burning of Bluffton, South Carolina, During the Civil War'' (Bluffton, S.C.: Jeff Fulgham, 2012), 7. The movement was an attempt to invoke "separate state action" against the Tariff of 1842 after John Calhoun's failure to secure the presidential nomination and the Northern Democrats' abandonment of the South on the tariff had apparently destroyed hope for relief within the Democratic Party. Many of the "Blufftonites" undoubtedly contemplated disunion, but the object of their leader, Robert Barnwell Rhett, seems rather to have been a "reform" of the Union giving further safeguards to southern interests. The movement collapsed within a short time, largely through its repudiation by Calhoun. Background The impetus for the movement was the passing in Congress of the Tariff of 1842, a p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariffs In The Second Trump Administration
During Second presidency of Donald Trump, his second presidency, United States president Donald Trump enacted a series of steep Protective tariff, protective tariffs affecting nearly all List of imports of the United States, goods imported into the United States. From January to April 2025, the average effective US tariff rate rose from 2.5% to an estimated 27%, the highest level in over a century. Following policy rollbacks prompted by economic turmoil, the average effective tariff rate stood at 15.6% as of June 2025. Trump raised steel and aluminum tariffs to 50%, introduced a 25% tariff on imported cars, and ordered investigations into pharmaceuticals, copper, and other sectors to support future tariffs. He also invoked unprecedented powers under the International Emergency Economic Powers Act (IEEPA) to impose broad, universal tariffs affecting all imports. Although federal courts ruled this use of the IEEPA unconstitutional, the decisions were Stay of proceedings, stayed pe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
