The Underwood-Simmons tariff act was passed to reduce tariffs on all imported goods. Thus second option is correct.
Tariff refers to the Tax which is imposed by the government of the particular import and export of the goods from the other countries. For example The government imposed the 5% of the custom duty on the import of the Electrical products.
Underwood-Simmons tariff act was passed in 1913 by the US government in which for first time it has reduced the tariffs on the import of the goods.
It also eliminated the imports duties on many the goods and war materials. It was also known as the Revenue Act of 1913. Thus second option is correct.
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