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Tariff
noun
1. A tax or duty to be paid on a particular class of imports or exports.

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The first tariff law passed by the U.S. Congress was the Tariff of 1789. The purpose of this tariff was to help generate revenue for the federal government. Another reason they did this was to protect the domestic industries. They would collect an import tax by treasury agents before good landed in the U.S.

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When American factories started to get built and set up they couldn't really compete with the experience and quality of European goods. This made it hard for American factories to gain profit and stay in business . To help the American out James Madison raised the prices of European good so that people would be persuaded to buy American goods.

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The Tariff of 1930 is also known as the Smoot-Hawley Tariff raised U.S. tariffs on over 20,000 imported goods. The reason why it is know as the Smoot-Hawley Tariff is because of its chief sponsors Reed Smoot and Willlis Hawley. This tarrif added to the Great Depression because of the fact that they raised Tariffs that were already high. Their intentions was to protect American businesses and farmers.

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The tariff of 2002 was a Tariff that George W. bush used to push the prices of steel this caused more Americans to lost their jobs do to high steel prices. The rates ranged from 8 percent to 30 percent on certain steel products imports from most countries. This effected our steel products such as fabricated metal, machinery, and transportation equipment.

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Donald trump has decided to put tariffs on $50 billion worth of good from china. They decided to do this after they have tried to dampen the fears of a trade war. China does not want this however and recently offered to buy $70 billion of energy, agriculture and manufactured products from the US.