The McKinley Tariff Act of 1890 was a high protective tariff raising rates on many imports. Congress remains central in setting rates, with protectionism as a goal. Introduces role of Executive Branch.
Significance
- Introduced the concept of reciprocity, lowering tariffs if other country lowered theirs
- Introduced role of Executive Branch to manage reciprocity agreements
- Increased Tariff rates to nearly 50%
- Caused sharp increase in Goods
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