Emergency Tariff of 1921

Emergency Tariff Of 1921

U.S. Legislation
U.S. Legislation Less

Emergency Tariff of 1921

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Description:
The Emergency Tariff of 1921 of the United States was enacted on May 27, 1921. Due to the Underwood Tariff passed during the Wilson Administration, Republican leaders in the United States Congress rushed to create a temporary measure to ease the plight of farmers until a better solution could be put into place. With growing unrest in the American public, President Harding and Congress passed the tariff.

Causes

In the 1920s, the most disconcerting economic issue was declining farm profits. From 1900-1920, American farmers had prospered while European agriculture suffered serious disruption due to World War I, therefore prices soared. Beginning in 1919, Europeans closed their markets by implementing tariff barriers. This period of American agricultural prosperity due to rising demand concluded by the early 1920s. While American farms continued to grow due to previous wartime price and technological advances, European demand for American farm products declined and prices plummeted.The twenties in...
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