Question

Explain how the Union benefited from the imposed protective tariffs on imports?pls help quickly :). thank you

Answer 1

Although they opposed permanent tariffs, political expedience in spite of sound economics prompted the Founding Fathers to pass the first U.S. tariff act. For 72 years, Northern special interest groups used these protective tariffs to exploit the South for their own benefit. Finally in 1861, the oppression of those import duties started the Civil War.

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Answer 2

Although they opposed permanent tariffs, political expedience in spite of sound economics prompted the Founding Fathers to pass the first U.S. tariff act. For 72 years, Northern special interest groups used these protective tariffs to exploit the South for their own benefit. Finally in 1861, the oppression of those import duties started the Civil War.

In addition to generating revenue, a tariff hurts the ability of foreigners to sell in domestic markets. An affordable or high-quality foreign good is dangerous competition for an expensive or low-quality domestic one. But when a tariff bumps up the price of the foreign good, it gives the domestic one a price advantage. The rate of the tariff varies by industry.

Step-by-step explanation: