You are here

Many US policymakers tilt towards trade protectionism

The effects of the Crash of 2008 are still being felt in 2015, with growing evidence that protectionists in Congress may block two major free trade pacts.
Friday, February 27, 2015 - 05:50
BT_20150227_HMFOREIGN_1534633.jpg
Some economists believe that the protectionist Smoot-Hawley Tariff Act was one of the factors that caused the Great Depression.

TWO devastating American financial crises - the Crash of 2008 and the Great Depression of 1929 - have caused many US policymakers to prefer a policy of trade protectionism and avoid wasteful foreign military interventions.

US foreign policy is now confronting strong domestic pressure.