Walker Tariff

The Walker Tariff, enacted in 1846 under President James K. Polk, was a law that lowered import taxes (tariffs) on many goods coming into the United States. Its goal was to boost trade by making foreign products cheaper and encourage economic growth. Previously, tariffs were higher, which could discourage imports and upset trading partners. By reducing these taxes, the Walker Tariff aimed to benefit consumers with lower prices and promote a more open and active import market, helping the U.S. economy during that period.