Editing Fordney–McCumber Tariff (section)

==Economic effects==
For agriculture, the tariff raised the [[purchasing power]] of the farmers by 2–3%, but other industries raised the price of some farm equipment. In September 1926, economic statistics released by farming groups revealed the rising cost of farm machinery.

For example, the average cost of a harness rose from $46 in 1918 to $75 in 1926, the 14-inch plow rose from $14 to $28, mowing machines rose from $45 to $95, and farm wagons rose from $85 to $150.<ref>Edward S. Kaplan "American Trade Policy, 1923–1995." 1996, pp. 8–10</ref>

That triggered a [[tariff war]] against other European countries that traded with the United States. As US tariffs raised, those in other countries followed.

According to the American Farm Bureau, farmers lost more than $300 million annually as a result of the tariff.<ref name="auto1"/>