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Political poster by the British Liberal Party presenting their view of the differences between an economy based on free trade versus one based on protectionism. The free trade shop is shown as full of customers due to its low prices. The shop based on protectionism shows higher prices, a lesser selection of goods, and a lack of customers.
The following alternatives to free trade have been proposed: protectionism, [79] imperialism, [80] balanced trade, [81] fair trade, [82] and industrial policy. [83] Under balanced trade, nations are required to provide a fairly even reciprocal trade pattern; they cannot run large trade deficits or trade surpluses.
The Canadian–American Reciprocity Treaty increased trade between 1855 and its ending in 1866. When it ended Canada turned to tariffs. The National Policy was a Canadian economic program introduced by John A. Macdonald's Conservative Party in 1879 after it returned to power. It had been an official policy, however, since 1876.
One of the world's leading economic advisory organizations is urging governments to avoid protectionism as they grapple with the global recession. The Organization for Economic Cooperation and ...
Barclays estimates that protectionist policy disruptions to trade between the US and the targeted countries would drag down S&P earnings-per-share growth, a chief driver of this year's market ...
If Marshall was suggesting that the power over interstate commerce is an exclusive federal power, the Dormant Commerce Clause doctrine eventually developed very differently: it treats regulation that does not discriminate against or unduly burden interstate commerce as a concurrent power, rather than an exclusive federal power, and it treats ...
Jean-Christophe Bott/AP/KeystoneWorld Trade Organization Director General Pascal Lamy addresses a news conference on world trade figures for 2012 and prospects for 2013 at WTO headquarters in ...
A trade war therefore does not cause a recession. Furthermore, he notes that the Smoot–Hawley tariff did not cause the Great Depression. The decline in trade between 1929 and 1933 "was almost entirely a consequence of the Depression, not a cause. Trade barriers were a response to the Depression, in part a consequence of deflation." [97]