Protective tariffs are taxes imposed on imported goods with an aim to protect domestic industries from foreign competition by making imported goods more expensive.
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Tariff of Abominations (1828): This was an extremely high tariff that led to significant controversy because Southern states felt it unfairly benefited Northern manufacturers at their expense.
Smoot-Hawley Tariff Act (1930): An act passed during Great Depression which raised U.S. tariffs on over 20,000 imported goods leading global trade decline.
Free Trade Agreement: These are treaties between two or more countries to establish a free trade area where commerce in goods and services can be conducted across their common borders, without tariffs or hindrances.