The Tariff Act of 1890, also known as the McKinley Tariff, was signed into law in 1890. Almost half of all imports were taxed because of the tariff, which was meant to protect American businesses from foreign competition. Protectionism, a tactic used by Republicans, was a hot topic of debate by politicians and a big no-no by Democrats. In 1894, the McKinley Tariff was replaced by the Wilson-Gorman Tariff, which cut tariff rates right away.