When Taxes Replaced Tariffs – Historical Note

Kent Forsey, CFP® Tariffs, Taxes

November 2018 As a young country, the first of tariffs enacted to protect American business interests was the Tariff Act of 1789. The act was written to raise funds for the newly established government, reduce debt from the Revolutionary War, and protect U.S. companies from unfair foreign competition. At the time, Congress passed tariff amounts from 5% to as high …

What a Tariff on Steel and Aluminum Means

Kent Forsey, CFP® Economic Impact, Tariffs, Trade Policies

April 2018 Much has been made in the media recently about steel and aluminum tariffs.  Most of the news has been aimed at criticizing the President for something that would add to consumer costs of goods and services but there is more to the story. The Department of Commerce released a report in February prompting the President to enact tariffs …