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In Hawaii, the government became concerned that the subsequent United States Tariff Act of March 3, 1883, which lowered sugar tariffs imposed on product imported from all nations, had left them at a disadvantage. Article IV of the reciprocity treaty prevented Hawaii from making reciprocity treaties with other nations.
U.S. tariffs on sugar meant a heavy drop in Hawaiian exports. The 20% to 42% tariffs between 1850 and 1870 meant the profit margin for sugar was greatly decreased for sugarcane plantations. However, the 1876 reciprocity treaty between the United States and Hawaii led to free-duty trade between the two. [2]
The industry was tightly controlled by descendants of missionary families and other businessmen, concentrated in corporations known in Hawaiʻi as "The Big Five". [2] These included Castle & Cooke, Alexander & Baldwin, C. Brewer & Co., H. Hackfeld & Co. (later named American Factors (now Amfac)) and Theo H. Davies & Co., [11] which together eventually gained control over other aspects of the ...
The treaty's most immediate result was an increase in new United States plantation owners. San Francisco sugar refiner Claus Spreckels became a prime investor in Hawaii's sugar industry. [101] Over the term of Kalākaua's reign, the treaty had a major effect on the kingdom's income. In 1874, Hawaii exported $1,839,620.27 in products.
During the 1850s, the U.S. import tariff on sugar from Hawaii was much higher than the tariffs Hawaiians were charging the U.S. Kamehameha III sought reciprocity. [138] The monarch wished to lower U.S. tariffs and make Hawaiian sugar competitive with other foreign suppliers.
The result was the multiculturalism of Hawaii and a wedge for Americans and Europeans to use in order to exert economic and political influence over Hawaii. Late 19th Century: S ugar success sets ...
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Inflation is moderating, but economists expect that trend could reverse quickly if Donald Trump follows through with a proposal to impose 10%-20% tariffs on all imports and a 60% tariff on Chinese ...