The Tea Act (1773), adopted by the British Parliament, which abolished customs duties on tea exports in colonies. In this way, Britsh East India Company is enabled to export tea in colonies and practically be the only competitive tea export company. This decision of the parliament, along with the already existing dissatisfaction over "taxation without representation", led to the protests of the colonistab from Massachusetts, led by Samuel Adams, who threw 342 chests into the port. This event was known as "Boston Tea Party".