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Posted: 2025-04-23 11:43:56 UTC
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
This article contains some claims that remain unverified. While much of the content may be accurate, exercise care when relying on this information.
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Last Updated
2025-04-23 11:44:26 UTC
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Rollup News
A chart depicting the average U.S. tariff rate from 1890 to 2025, highlighting key periods and trade agreements.
Tariff rates from 1890 to 2025
Impact of historical events and trade agreements on tariff rates
Tariffs in the 1890s were high to protect U.S. industry and raise federal revenue.
The Smoot-Hawley Tariff Act of 1930 raised U.S. tariffs on over 20,000 imported goods, deepening the Great Depression and sparking global retaliation.
The North American Free Trade Agreement (NAFTA) of 1994 eliminated most tariffs between the U.S., Canada, and Mexico.
President Trump announces sweeping tariffs in 2025, aiming to reduce U.S. trade and budget deficits.
Balancing protection of domestic industries with the need for global trade liberalization
Avoiding retaliatory tariffs from other countries
Managing the economic impact of tariffs on consumers and businesses