Trade Policy in American Economic History

  title={Trade Policy in American Economic History},
  author={Douglas A. Irwin},
  journal={Annual Review of Economics},
  • D. Irwin
  • Published 2 August 2020
  • Economics, History
  • Annual Review of Economics
This article reviews the broad changes in US trade policy over the course of the nation's history. Import tariffs have been the main instrument of trade policy and have had three main purposes: to raise revenue for the government, to restrict imports and protect domestic producers from foreign competition, and to reach reciprocity agreements that reduce trade barriers. Each of these three objectives—revenue, restriction, and reciprocity—was predominant in one of three consecutive periods in… 
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