On this day in 1818, Congress heeded President James Monroe's call to uphold the fiscal integrity of domestic industry and gave the green light to sharply protectionist tariff legislation.
Not only did the tariff hike duties on iron imports, but it also put the breaks on an anticipated decrease in the levy charged on textiles. Moreover, the tariff legislation marked another chapter in America's long romance with protectionist policies. Indeed, from the time of its birth as a nation, the United States routinely adopted legislation designed to steel its producers' power in the international marketplace.
In the years following the tariff of 1818, America's fondness for tariffs grew especially pronounced; by the 1820s, duties climbed to unprecedented levels. America's proclivity for protectionism faded by the early to mid-20th century, when the Depression and World War II prompted U.S. leaders, including President Franklin Roosevelt, to shift to a more-liberal fiscal course and open the doors to international trade.
Source: History.com
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