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Article: Fordney-Mccumber Tariff

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FORDNEY-MCCUMBER TARIFF


After President Warren Harding's (1921 – 1923) inauguration in 1921 he asked Congress for emergency tariff legislation, stating "I believe in the protection of American industry, and it is our purpose to prosper America first." By the following year Congress completed a comprehensive tariff revision, The Fordney-McCumber Tariff Act. The law represented a return to pre-World War I (1914 – 1918) protectionism of the United States amid fear that European producers could undersell U.S. manufacturers. The Fordney-McCumber Tariff raised average duties (import taxes) on all imported goods 15.2 percent in 1922, and up to 36.3 percent in 1923. The tariff ...

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