How and why did alexander hamilton propose to raise prices on foreign products

Alexander Hamilton was one of the men responsible for making the American Nation. He had a strong belief that in able for a country to be modern it needs developments in the industry. He wanted to make America as strong as Europe and have the same equal power it had. With this goal in mind, he carefully devised a program that would make America into an industrial nation and helped in organizing its finances by establishing government credits and a national bank. This move then helped the flow of money needed for investments, various businesses, and commercial activities.

He is also responsible in establishing a system for import taxes (tariffs) on foreign goods that were brought to American ports. When he did this, foreign manufacturers started to raise their prices and suddenly made American manufactures have less competition with the selling of their products.