Question

Why did tariff reform fail in the 1890s?

Answer 1

In 1890, William McKinley, the sitting Congressional Representative from Ohio, outlined the Tariff Act of 1890. Created to protect American businesses from foreign competition, the Tariff Act of 1890 raised the duty taxes on all imports to almost 50%. When American farmers, industrialists, and business men couldn't keep up with the demand created by limited foreign suppliers, prices for those goods skyrocketed, leaving many Americans with less money in their pockets. Additionally, foreign governments added their own sanctions and taxes to exported goods bound for the United States, adding additional fees that were passed along to the average consumer.