jan 1, 1922 - Fordney-McCumber Tariff

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The Fordney–McCumber Tariff of 1922 was a law that raised American tariffs on many imported goods to protect factories and farms. The US Congress displayed a pro-business attitude in passing the tariff and in promoting foreign trade by providing huge loans to Europe. That, in turn, bought more US goods.



Rising tariff barriers in the U.S. made it more difficult for European nations to conduct trade and, resultantly, to pay off their war debts. Further, the protective shield against foreign competition enabled the growth of monopolies in many American industries.

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