Tariff Basics
Definition of tariff.
What is a tax on imported goods?
The reason why tariffs grew less popular.
What is the income tax?
What is the prize is raised?
This drops when tariffs are implemented.
Purpose of tariffs.
What is "to protect domestic industries"?
The date that the first tariff law in the US was signed.
When was 1789?
What are consumers?
Tariffs cause this to fluctuate.
What is currency?
The most common type of tariff.
What is ad valorem?
The name of the tariff act that Herbert Hoover signed.
What is the Smoot-Hawley Act?
Term for the economic retaliation from other countries.
What is a trade war?
Type of company that is hit the most by tariffs.
What are manufacturing or multinational companies?