Question

Which of the following best describes the significance of the Fordney-McCumber Tariff of 1922? a. It created the first pension system for veterans’ widows in the nation’s history. b. It was a first step toward fair trade. c. It was universally embraced as a means of protecting American workers. d. It demonstrated a repudiation of Wilson’s free-trade ideas. e. It was meant as retaliation against European protectionism.

Answer 1

Answer: Option (D) is correct.

Explanation:

Fordney–McCumber Tariff enforced in 1922 was referred to as the rule of law which raised the American tariffs on several imported commodities in order to protect farms and factories. The Congress viewed this as a pro-business attitude in applying such tariff and also promoting trade thus by providing loans to Europe. In turn, they tend to bought more goods from US.