23h 20min, jul 11, 1879 y - German tariff of 1879

Description:

Under pressure from large industrial and agricultural groups (the 'alliance of steel and rye'), Bismarck introduced protectionist tariffs to guard the German markets from an influx of cheap Russian and American grain. This contributed to the economic growth which Germany experienced in the following years, but did keep prices artificially high for German consumers and hindered the diversifIcation brought by competition in the sector.

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