The Tariff of 1832 was a protectionist tariff in the United States. Southern opposition to this tariff and its predecessor, the Tariff of Abominations, caused the Nullification Crisis. The tariff was later lowered down to 35 percent, a reduction of 10 percent. Protectionism is the economic policy of restraining trade between jurisdictions, through methods such as high tariffs on imported goods, restrictive quotas, and anti-dumping measures, in an attempt to protect industries in a particular locale from competition. ... The Tariff of 1828, also known as the Tariff of Abominations, was a protective tariff passed by the U.S. Congress in 1828. ... The Nullification Crisis was a sectional crisis during the presidency of Andrew Jackson centered around the question of whether a state can refuse to recognize or to enforce a federal law passed by the United States Congress. ...
It was repealed by the Compromise Tariff of 1833. The Tariff of 1833, also known as the Compromise Tariff, was proposed by Henry Clay and John C. Calhoun as a resolution to the Nullification Crisis. ...
Categories: 1832 in law | United States federal trade legislation | Economics and finance stubs
The Tariff of 1842, or Black Tariff as it became known, was a protectionisttariff schedule adopted in the United States to reverse the effects of the Compromise Tariff of 1833.
The Compromise Tariff contained a provision that successively lowered the tariff rates from their level under the Tariff of 1832 over a period of ten years until the majority of dutiable goods were to be taxed at 20%.
The Black Tariff was signed into law somewhat reluctantly by President John Tyler following a year of disputes with the Whig leaders in Congress over the restoration of national banking and the government's land disbursement policies.
South Carolina dealt with the tariff by adopting the Ordinance of Nullification, which declared both the tariffs of 1828 and 1832 null and void within state borders.
Clay's tariff bill — quickly approved in 1833 — specified that all duties in excess of 20 percent of the value of the goods imported were to be reduced by easy stages, so that by 1842, the duties on all articles would reach the level of the moderate Tariff of 1816.
This tariff is known as both the Tariff of 1833 and the Compromise Tariff.
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