LULA
The OPEC nations dramatically raised oil prices.
OPEC raised oil prices, ending an era of cheap fuel. Recession and increased inflation followed in the west.
The American colonists hated the Stamp Act, Townshend Act, and the Tea Act because they did not want raised taxes. They believed it to be unfair and unnecessary.
Passed by Congress in July 1897, the Dingley Tariff Act increased duties by an average of 57 percent. Tariff rates were hiked on sugar, salt, tin cans, glassware, and tobacco, as well as on iron and steel, steel rails, petroleum, lead, copper, locomotives, whisky, and leather.
John C Calhoun believed high tariffs raised the prices of manufactured goods
John C. Calhoun
Calhoun and other Southerners argued that tariffs raised the prices that they to pay for the manufactured goods they could not produced for themselves.
the tariff raised prices of prouducts causing them to have to pay more for products
He raised them by 250%
After the Constitution established the United States as a single country, only the federal government could impose tariffs on goods imported from other countries, and the states could not impose tariffs on imports or exports from each other. This agreement was made in the Constitution since the North and the South felt very different about tariffs. A tariff is a tax on imported goods, and the cost of the tax was passed on by the importing merchant to the customers, so tariffs made it more expensive to buy imported merchandise (and if the tariffs were high, even allowed U.S. manufacturers to raise their prices). People were more likely to buy more goods manufactured in the U.S. because tariffs had raised the prices of imports. Most of the factories in the early years of the U.S. were in the North. Therefore, higher tariff rates were supported in the Northern states, whose factory owners and employment rate benefited, and opposed by the Southern states, who had to pay more expensive prices without any benefit to themselves.
Tariffs were raised. CAUSED manufacturers' sales overseas declined
Harrison favored protective tariffs to benefit American industries and farmers. As President, he signed the McKinley Tariff Act of 1890, which raised tariffs to their highest level in American history. This move was intended to protect domestic industry but led to higher consumer prices and contributed to the economic downturn of the 1890s.
LULA
Grover Cleveland wanted to lower tariffs rate but congress would not support or help him. Meanwhile Benjamin Harrison wanted tariffs even higher and he signed the McKinley Tariff Act of 1890,which raised tariffs on manufactured goods to their highest level yet.
Grover Cleveland and Benjamin Harrison
It raised tariffs on imported goods.