By early 1770, Parliament decided to repeal the Townshend duties except for one on tea because the

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The colonial boycott of British goods had severely hurt British merchants, resulting in pressure on Parliament to repeal most of the Townshend duties. However, the duty on tea was maintained partly as a symbol of British authority, but also because the East India Company was on the brink of bankruptcy and needed the support of the British government.

By Early 1770, Parliament Decided to Repeal the Townshend Duties