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Protectionism, sometimes referred to as trade protectionism, is the economic policy of restricting imports from other countries through methods such as tariffs on imported goods, import quotas, and a variety of other government regulations.
Protectionism in the United States is protectionist economic policy that erects tariffs and other barriers on imported goods. This policy was most prevalent in the 19th century. At that time, it was mainly used to protect Northern industries and was opposed by Southern states that wanted free trade to expand cotton and other agricultural exports.
The Tariff Act of 1930 (codified at 19 U.S.C. ch. 4), commonly known as the Smoot–Hawley Tariff or Hawley–Smoot Tariff, [1] was a law that implemented protectionist trade policies in the United States.
A paper the following year from the New York Federal Reserve found Trump’s tariffs and other protectionist trade policies cost U.S. consumers $1.4 billion each month. “Tariffs were almost ...
That protectionist policy, ... “It is a breath of fresh air to have a president willing to use trade policy to advance the national interest, and Congress should back him by imposing a 10% ...
The U.S. amended its protectionist trade policies and moved toward a hands-off approach that favored free trade over tariffs and other barriers. That era lasted from the end of World War II to the ...
The economic policy of the first Donald Trump administration was characterized by the individual and corporate tax cuts, attempts to repeal the Affordable Care Act ("Obamacare"), trade protectionism, deregulation focused on the energy and financial sectors, and responses to the COVID-19 pandemic.
In line with Trump’s protectionist trade policies, he has also proposed a general 10 to 20 percent tax of all imported goods, though economists caution that a general tariff could run afoul with ...