Fordney–McCumber Tariff

Fordney–McCumber Tariff (21 September 1922) This law continued the Republican program of protectionism. It raised rates on industrial goods 26 percent above those of the Payne–Aldrich Tariff and set higher levies on farm goods than those of the Emergency Tariff Act (1921). It allowed the president to approve recommendations by the Tariff Commission for rate changes up to 50 percent of congressional duties. By excluding large quantities of European farm, chemical, and manufactured items, it raised domestic prices and provoked about 60 nations to retaliate with higher tariffs on US goods through 1928.