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Although the British East India Company had reduced the price on their tea (due to the Tea Act), this was just a way to hide the taxes of the Townshend Acts from the colonists. Aware of these taxes, the colonists refused to purchase ths tea, refusing to accept that the British had the right to tax them. They protested during the Boston Tea Party, where they dumped the tea into the Boston harbor.
1775, right after the tea tax
The Tea Act of 1773 gave British tea companies a hegemony over all the American tea trade. The Tea Act was created to provide protection for the British East India Tea Company, which was struggling against competition, as well as a way to tax the colonists.
The Townshend Act was passed in 1767 after the Colonists rebelled against the Stamp Act. The Townshend Act was a tax on glass, paint, lead, tea and other things the Colonists needed.
The passage of the stamp act led directly to the Boston Tea Party. This, in turn, led directly to the Revolutionary War.