What was the purpose of Fordney-McCumber tariff?

A)To impose a tax on stock market transactions

B) to cut taxes to increase workers' purchasing power

C) to raise import duties to protect us businesses.

D) to discourage exports by taxing them

Question

What was the purpose of Fordney-McCumber tariff? 

A)To impose a tax on stock market transactions 

B) to cut taxes to increase workers' purchasing power 

C) to raise import duties to protect us businesses. 

D) to discourage exports by taxing them

anonymous · Answer

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