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What are the reasons for high tariffs in US on foreign imports?
Wiki User
∙ 13y ago
Some countries run systems where labor costs are very low, which means some goods can be made very cheaply. So developed nations have to impose tariffs or otherwise their own workers would be unemployed.
Wiki User
∙ 13y ago
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What would high tariffs cause problems for?
Imports because tariffs are an import tax and taxes make doing business more expensive and people who import a lot such as Europe USA... would feel the burden
How did high tariffs contribute to the stock market crash?
. They damaged the U.S. economy by angering foreign trade partners
What best explains why the North supported high tariffs on foreign goods?
Because everyone like Tilak patel
True or false that Southerners favored high tariffs because they purchased so many goods from foreign nations?
true
How do high tariffs help America?
High tariffs are supposed to help the American economy because they place taxes on imported goods. Tariffs promote the purchasing of American-made goods because they are sold at a lower price, without the tariff. Also, if people decide to buy foreign goods instead, then the government makes money from the tariffs that were paid.
Why did the North wanted Tariffs and the South did not?
The North wanted to proetct its industry against foreign imports. The South only had cotton, and needed all kinds of imports. So the Tariffs were seen as a tax by the North on the South.
What are taxes on imports and exports called?
Taxes that are placed on imports and exports are referred to as tariffs. A debate exists regarding whether or not high tariffs help or hurt a nation's economy.
Why did the nations of the world establish high tariffs on imports during the 1930s?
They were trying to reduce the rates of unemployment in their respective countries during the great depression. By establishing high tariffs on imports, the idea went, they could protect domestic manufacturers form foreign competition and thus save jobs and protect native industry.
What did the North want to protect its industry?
It wanted to protect its industry by levying tariffs (taxes) on cheap imports. The South had very little industry, and needed cheap imports. So the tariffs looked like a tax by the North on the South.
Why was the south against high tariff?
The South was against high tariffs because the tariffs forced them to buy high-priced goods from the North instead of getting cheap imports from other countries.
Why did the north favor high tariffs?
The South didn't want high tariffs because their economy relied on foreign trade.
How did the high tariffs damage the U.S.?
By angering foreign trade partners. (APEX)
How high did tariffs damage the us economy?
By angering foreign trade partners
How did high tariffs damage the use economy?
By angering foreign trade partners
How did the high tariffs damage the US Economy?
By angering foreign trade partners
How did high tariffs damage the US economy?
By angering foreign trade partners
What tariffs encourage democrats foreign trade while republicans wanted what tariffs to ensure domestic industrial expansion?
Low,High
