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List Of Tariffs In The United States
This is a list of United States tariffs. * 1789: Tariff of 1789 (Hamilton Tariff) * 1790: Tariff of 1790 * 1792: Tariff of 1792 * 1816: Tariff of 1816 * 1824: Tariff of 1824 * 1828: Tariff of 1828 * 1832: Tariff of 1832 * 1833: Tariff of 1833 * 1842: Tariff of 1842 * 1846: Walker tariff * 1857: Tariff of 1857 * 1861: Morrill Tariff * 1872: Tariff of 1872 * 1875: Tariff of 1875 * 1883: Tariff of 1883 (Mongrel Tariff) * 1890: McKinley Tariff * 1894: Wilson–Gorman Tariff Act * 1897: Dingley Tariff * 1909: Payne–Aldrich Tariff Act * 1913: Revenue Act of 1913 (Underwood Tariff) * 1921: Emergency Tariff of 1921 * 1922: Fordney–McCumber Tariff * 1930: Smoot–Hawley Tariff Act * 1934: Reciprocal Tariff Act * 1947: General Agreement on Tariffs and Trade * 1962: Trade Expansion Act * 1974: Trade Act of 1974 * 1979: Trade Agreements Act of 1979 * 1984: Trade and Tariff Act of 1984 * 1988: Omnibus Foreign Trade and Competitiveness Act * 1994: World Trade Organization c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tariff
A tariff is a tax imposed by the government of a country or by a supranational union on imports or exports of goods. Besides being a source of revenue for the government, import duties can also be a form of regulation of foreign trade and policy that taxes 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). Taxing imports means people are less likely to buy them as they become more expensive. The intention is that they buy local products instead, boosting their country's economy. Tariffs therefore provide an incentive to develop production and replace imports with domestic products. Tariffs are meant to reduce pressure from foreign competition and reduce ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Wilson–Gorman Tariff Act
The Revenue Act or Wilson-Gorman Tariff of 1894 (ch. 349, §73, , August 27, 1894) slightly reduced the Tariff in American history, United States tariff rates from the numbers set in the 1890 McKinley tariff and imposed a 2% tax on income over $4,000. It is named for William Lyne Wilson, William L. Wilson, U.S. Representative, Representative from West Virginia, chair of the U.S. House Ways and Means Committee, and U.S. Senator, Senator Arthur P. Gorman of Maryland, both History of the United States Democratic Party, Democrats. Supported by pro-free trade members of the History of the United States Democratic Party, Democratic Party, this attempt at tariff reform imposed the first peacetime income tax (2% on income over $4,000, or $88,100 in 2010 dollars, which meant fewer than 1% of households would pay any). The purpose of the income tax was to make up for revenue that would be lost by tariff reductions. The democrats under the Cleveland administration wanted to move away from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Omnibus Foreign Trade And Competitiveness Act
The Omnibus Foreign Trade and Competitiveness Act of 1988 is an act passed by the United States Congress and signed into law by President Ronald Reagan. History During the 1970s, the U.S. trade surplus slowly diminished and turned into an increasing deficit. As the deficit increased through the 1980s, some of the blame fell on the tariffs placed on US products by foreign countries, and the lack of similar tariffs on imports into the United States. Workers, unions and industry management all called for government action against countries with an unfair advantage. The Omnibus Foreign Trade and Competitiveness Act started as an amendment proposed by Rep. Dick Gephardt (D-MO) to order the Executive branch to thoroughly examine trade with countries that have large trade surpluses with the United States. If the trade surpluses continued, the offending country would be faced with a bilateral surplus-reduction requirement of 10%. Because of its style of zero-sum game thought, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade And Tariff Act Of 1984
The Trade and Tariff Act of 1984 (P.L. 98-573) clarified the conditions under which unfair trade cases under Section 301 of the Trade Act of 1974 (P.L. 93-618) can be pursued. It also provided bilateral trade negotiating authority for the U.S.-Israel Free Trade Agreement and the U.S.-Canada Free Trade Agreement, and set out procedures to be followed for congressional approval of future bilateral trade agreements. The bill was sponsored by Democrat Sam Gibbons (FL-7) and was signed into law by President Ronald Reagan on October 30, 1984. Congressional gatekeeping A key feature of the legislation was its modification of the 1974 Trade Act's Fast track authority The fast track authority for brokering trade agreements is the authority of the President of the United States to negotiate international agreements in an expedited manner and with limited congressional oversight. Renamed the trade promotion a ..., incorporating a "committee gatekeeping" device. Congress opted to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Agreements Act Of 1979
The Trade Agreements Act of 1979 (TAA), , codified at (), is an Act of Congress that governs trade agreements negotiated between the United States and other countries under the Trade Act of 1974. It provided the implementing legislation for the Tokyo Round of the General Agreement on Tariffs and Trade. The stated purposes of the TAA are: * Approve and implement the trade agreements negotiated under the Trade Act of 1974 * Foster the growth and maintenance of an open world trading system * Expand opportunities for the commerce of the United States in international trade * Improve the rules of international trade and to provide for the enforcement of such rules, and for other purposes The TAA can restrict procurement of goods and services for federal contracts, if the program management office decides to check TAA compliance. In many ways the TAA supersedes the Buy American Act, because the TAA allows the President to waive the Buy American Act under certain conditions. Federa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Act Of 1974
The Trade Act of 1974 (, codified at ) was passed to help industry in the United States become more competitive or phase workers into other industries or occupations. Fast track authority The Trade Act of 1974 created fast track authority for the President to negotiate trade agreements that Congress can approve or disapprove but cannot amend or filibuster. The Act provided the President with tariff and non-tariff trade barrier negotiating authority for the Tokyo Round of multilateral trade negotiations. Gerald Ford was the President at the time. The fast track authority created under the Act was set to expire in 1980, was extended for 8 years in 1979, was renewed again in 1988 until 1993 to allow for the negotiation of the Uruguay Round within the framework of the General Agreement on Tariffs and Trade (GATT), and was again extended to 16 April 1994, a day after the Uruguay Round concluded in the Marrakech Agreement transforming the GATT into the World Trade Organization ( ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Trade Expansion Act
The Trade Expansion Act of 1962 (, codified at ) is an American trade law. Section 232 of the Act permits the President to impose tariffs based on a recommendation by the U.S. Secretary of Commerce if "an article is being imported into the United States in such quantities or under such circumstances as to threaten or impair the national security."Shannon Togawa Mercer & Matthew KahnAmerica Trades Down: The Legal Consequences of President Trump's Tariffs ''Lawfare'' (March 13, 2018). This section was used only in 1979 and 1982, and had not been invoked since the creation of the World Trade Organization in 1995, until President Trump cited it on March 8, 2018 to impose tariffs on steel and aluminum. History In 1962, Congress granted the President of the United States unprecedented authority to negotiate tariff reductions of up to 80%. It paved the way for the Kennedy Round of General Agreement on Tariffs and Trade (GATT) negotiations, concluding on June 30, 1967, the last day befo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
General Agreement On Tariffs And Trade
The General Agreement on Tariffs and Trade (GATT) is a legal agreement between many countries, whose overall purpose was to promote international trade by reducing or eliminating trade barriers such as tariffs or quotas. According to its preamble, its purpose was the "substantial reduction of tariffs and other trade barriers and the elimination of preferences, on a reciprocal and mutually advantageous basis." The GATT was first discussed during the United Nations Conference on Trade and Employment and was the outcome of the failure of negotiating governments to create the International Trade Organization (ITO). It was signed by 23 nations in Geneva on 30 October 1947, and was applied on a provisional basis 1 January 1948. It remained in effect until 1 January 1995, when the World Trade Organization (WTO) was established after agreement by 123 nations in Marrakesh on 15 April 1994, as part of the Uruguay Round Agreements. The WTO is the successor to the GATT, and the origi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reciprocal Tariff Act
The Reciprocal Tariff Act (enacted June 12, 1934, ch. 474, , ) provided for the negotiation of tariff agreements between the United States and separate nations, particularly Latin American countries. The Act served as an institutional reform intended to authorize the president to negotiate with foreign nations to reduce tariffs in return for reciprocal reductions in tariffs in the United States up to 50%. It resulted in a reduction of duties. This was the policy of the low tariff Democrats in response to the high tariff Republican program which produced the Smoot–Hawley tariff of 1930 that raised rates, and sharply reduced international trade. The Reciprocal Tariff Act was promoted heavily by Secretary of State Cordell Hull. Reciprocal Tariff Act of 1934 President Franklin D. Roosevelt signed the Reciprocal Trade Agreements Act (RTAA) into law in 1934. It gave the president power to negotiate bilateral, reciprocal trade agreements with other countries and enabled Rooseve ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Smoot–Hawley Tariff Act
The Tariff Act of 1930 (codified at ), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, was a law that implemented protectionist trade policies in the United States. Sponsored by Senator Reed Smoot and Representative Willis C. Hawley, it was signed by President Herbert Hoover on June 17, 1930. The act raised US tariffs on over 20,000 imported goods. The tariffs under the act, excluding duty-free imports (see Tariff levels below), were the second highest in United States history, exceeded by only the Tariff of 1828. The Act prompted retaliatory tariffs by affected states against the United States. The Act and tariffs imposed by America's trading partners in retaliation were major factors of the reduction of American exports and imports by 67% during the Depression. Economists and economic historians have a consensus view that the passage of the Smoot–Hawley Tariff worsened the effects of the Great Depression. Sponsors and legislative history In 1922, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fordney–McCumber Tariff
The Fordney–McCumber Tariff of 1922 was a law that raised American tariffs on many imported goods to protect factories and farms. The US Congress displayed a pro-business attitude in passing the tariff and in promoting foreign trade by providing huge loans to Europe. That, in turn, bought more US goods. However, five years after the passage of the tariff, American trading partners had raised their own tariffs by a significant degree. France raised its tariffs on automobiles from 45% to 100%, Spain raised its tariffs on American goods by 40%, and Germany and Italy raised their tariffs on wheat. According to the American Farm Bureau, farmers lost more than $300 million annually as a result of the tariff. Background The first sector of the economy that was hit by a fall in postwar demand was agriculture. During World War I, the American agricultural industry had enjoyed prosperity through the raising of prices, which led to increased output that Americans used to supply Europe. Fa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Emergency Tariff Of 1921
An emergency is an urgent, unexpected, and usually dangerous situation that poses an immediate risk to health, life, property, or environment and requires immediate action. Most emergencies require urgent intervention to prevent a worsening of the situation, although in some situations, mitigation may not be possible and agencies may only be able to offer palliative care for the aftermath. While some emergencies are self-evident (such as a natural disaster that threatens many lives), many smaller incidents require that an observer (or affected party) decide whether it qualifies as an emergency. The precise definition of an emergency, the agencies involved and the procedures used, vary by jurisdiction, and this is usually set by the government, whose agencies (emergency services) are responsible for emergency planning and management. Defining an emergency An incident, to be an emergency, conforms to one or more of the following, if it: * Poses an immediate threat to life, hea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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