Question

How did tariffs affect American businesses?(1 point)ResponsesIt gave them powerful allies in foreign governmentsIt gave them powerful allies in foreign governmentsIt eliminated competition from foreign businessesIt eliminated competition from foreign businessesIt lowered the prices on imporeted goodsIt lowered the prices on imporeted goodsIt created new laws against raising taxes

Answer 1

Tariffs primarily affected American businesses by **eliminating competition from foreign businesses**. By imposing tariffs on imported goods, the cost of these goods increased, making domestic products more competitive in price. This helped protect American industries from foreign competition.