Tariff
A tariff is a tax on imports or exports between sovereign states. It is a form of regulation of foreign trade. It is a policy that taxes foreign products to encourage or protect domestic industry. It helps limit trade deficits. The tariff is historically used to protect infant industries and to allow import substitution industrialization.
Tariff of 1824
The Tariff of 1824 (Sectional Tariff of 1824, ch. 4, , enacted May 22, 1824) was a protective tariff in the United States designed to protect American industry from cheaper British commodities, especially iron products, wool and cotton textiles, and agricultural goods.