Basically this act didn't really do anything. The British government told the east inda company to go sell all its tea(that was sitting there)to the americas. Americans saw this as a way to help support the taxes that where already in place on tea. This all help lead up to the Boston tea party.
Here is some good sources:
http://www.ushistory.org/declaration/related/teaact.htm
http://en.wikipedia.org/wiki/Tea_Act
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