Tarrif Trivia

True or False:

Tariffs in antiquity and the medieval world tariffs are as old as organized trade. In the Bronze Age (3rd–2nd millennium BCE), merchant records from the Old Assyrian trading colony at Kanesh (in Anatolia) show that local rulers-imposed levies on caravans trading metals and textiles?. Despite these taxes, Assyrian merchants still profited and simply treated tariffs as a cost of doing business.

True or false:

In Britain, the world’s first industrial nation, tariff policy took a different turn. Well into the 1820s, Britain itself still practiced mercantilist-style protection (with average industrial import tariffs around 50%?) even as it gained a manufacturing lead. However, after years of agitation by free-trade advocates, Parliament repealed its infamous Corn Laws in 1846, ending hefty tariffs on imported grain.

True or False:

William McKinley is a president most known for his strong stance on high tariffs, earning him the nickname "Tarrif King"

True or False:

President Ronald Reagan believed the way to prosperity for all nations is rejecting protectionist legislation and promoting fair and free competition.

True or False:

As of late 2025, the country whose imports generate the most U.S. tariff revenue is Mexico, primarily due to the high volume of goods imported and a steep trade-weighted tax rate.