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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.
Decades later, Donald Trump used the slogan in his 2016 presidential campaign and presidency (2017–2021), emphasizing the U.S.'s withdrawal from international treaties and organizations in the administration's foreign policy. [4] [5] [6] Media critics have derided Trump's use of the America First policy as "America Alone". [7] [8] [9]
That protectionist policy, which triggered retaliatory measures from other nations, was seen by many economists as exacerbating the Great Depression. Duncan Braid, the coalition director of ...
PARIS (Reuters) -European aerospace companies are bracing for "very strong" protectionism in the United States under the administration of President-elect Donald Trump, the head of planemaker ...
Trump has been a vocal supporter of tariffs since the 1980s, and the protectionism policy played prominently in his first term. Trump has also discussed tariffs at length during his current run ...
The United States pursued a protectionist policy from the beginning of the 19th century until the middle of the 20th century. Between 1861 and 1933, they had one of the highest average tariff rates on manufactured imports in the world. After 1942, the U.S. began to promote worldwide free trade.