It's the Roaring '20s (Sort of): How U.S. Tariffs from the 1920s Nearly Sidetracked Nike's Ascendancy
- by Lutz Meier
- ⏱ 2 Min. Read
Nike's ascension was nearly halted by the implementation of US Tariffs in 1921 - U.S. duties imposed in 1921 nearly hindered Nike's ascent to prominence.
When the dust settled following The Big One, the chants for America First, insularity, and protectionism grew fiercer in the Homeland. Before Warren G. Harding even swore in as president in 1921, two Congress jokers had already proposed the Fordney-McCumber Tariff Act. This bill aimed to boost tariffs to a record-breaking average of 38.5%, effective from 1922 - figures unmatched by many countries across the globe.
Now let's talk about tariffs, Nike, protectionism, the United States, and the Great Depression.
The Fordney-McCumber Tariff Act of '21 was a colossal protectionist effort that hiked U.S. tariffs to never-before-seen levels. The plan? To protect American industries from foreign competitors - but this act predates Nike, a brand not founded until 1964. Therefore, the Fordney-McCumber Tariff Act couldn't have affected Nike's initial expansion.
However, protectionist measures like the Fordney-McCumber Tariff during the 1920s played significant roles in shaping America's manufacturing and trading landscape, laying the groundwork for the Great Depression. These tariffs may have provided an umbrella for U.S. industries, albeit aggravating global trade frictions and fueling economic problems that culminated in the Depression. By the time Nike burst onto the scene in the mid-20th century, the American tariff environment had witnessed substantial changes, with economic conditions and trade policies from that era having a more noticeable influence on Nike's growth than the 1921 tariff act.
To wrap it up, Nike's early successes weren't directly tied to the Fordney-McCumber Tariff Act of 1921. Since the brand didn't even exist back then, and the impacts of the tariff were more related to a bygone economic era, it seems Nike's expansion wasn't directly influenced by '21 tariff policy. No relevant findings indicating a connection between the two emerged in the search results provided.
- The increased tariffs in the 1920s, such as the Fordney-McCumber Tariff Act, significantly impacted the business landscape of various industries in the United States, reinforcing the protectionist policy.
- In the formation and growth of Nike, employment policies, community policies, industry, finance, and business factors played crucial roles, while the Fordney-McCumber Tariff Act of 1921 did not appear to have any direct impact due to Nike being founded in 1964, several decades later.
