Walker Tariff Act
Quick Summary
The Walker Tariff Act, enacted in 1846, significantly lowered tariff rates in the United States. This legislation was a concession to Great Britain as part of the resolution to the Oregon boundary dispute and was supported by President James K. Polk, who had backing in the agrarian South.12
Historically, tariffs in the U.S. have been a point of contention. While protective tariffs were favored by the industrial North, the agrarian South often criticized them for increasing the cost of imported goods. The Walker Tariff Act represented a shift towards lower tariffs, a trend that continued until the Civil War. This contrasts with later acts like the Smoot-Hawley Tariff Act of 1930, which dramatically raised tariffs, contributing to a significant decrease in international trade.23
Ask Britannica AI about this topic
Britannica doesn't have a full article on this topic, so we've curated a list of our relevant coverage.
