Tariffs

Question 1

When did “free-trade” end?

Answer 1

1922

Question 2

Who became president after Wilson?

Answer 2

Warren Harding

Question 3

What was the first tariff Harding introduced?

Answer 3

The Emergency Tariff

Question 4

What did the Emergency Tariff do?

Answer 4

Increased duties on food imports

Question 5

When was the Fordney-McCumber Tariff introduced?

Answer 5

1922

Question 6

What did the ‘Scientific Tariff’ part of the Fordney-McCumber Tariff link to?

Answer 6

Wages in the county of export

Question 7

What did the ‘American Selling Price’ part of the Fordney-McCumber Tariff link to?

Answer 7

The price of goods, not the cost of production. It meant that foreign imports were always more expensive than American-produced goods.

Question 8

What was a short term effect of the Fordney-McCumber Tariff?

Answer 8

American was a huge new country and therefore there was plenty of demand for products ‘made in America’ which boosted their economy

Question 9

What was one long term effect of the Fordney-McCumber Tariff?

Answer 9

Damaged the economy as other countries retaliated by increasing their duties and ending American exports

Question 10

What did Wilsons policy of “free-trade” mean?

Answer 10

Countries did not have to pay tariff taxed when buying/selling goods