In the USA, the Wilson-Gorman tariff is passed, diminishing the
charge levied on imports from the level embodied in the contentious
McKinley tariff, and imposing a 2% income tax. President Grover
Cleveland had hoped to pass a much lower tariff, and is very
disappointed with this result, but allows the law to pass without
his signature.
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55 words
Citation:
Editors, Litencyc. "Wilson-Gorman tariff". The Literary Encyclopedia. First published 30 December 2011 [https://www.litencyc.com/php/stopics.php?rec=true&UID=19132, accessed 06 May 2024.]