The United States Trade Policy

1741 WordsDec 1, 20157 Pages
Since the early 1930s, tariff reduction has been the prevalent theme of United States trade policy. In the future, economic historians will put an emphasis on the way the liberalization of trade over the past forty to sixty years has molded this particular trade policy. Since 1930, tariffs have been gradually reduced to roughly twenty percent of the regular level they were back then. This is a direct result of a sequence of eight multilateral negotiations and around thirty bilateral agreements. However, in order to completely understand why tariff reduction has been a prevalent theme since the 1930s, one must consider the changes that have directly affected the Unites States’ backing of trade liberalization. There are many things that have affected the support of the liberalization of trade in America, but investigating historic events such as world wars, natural disasters and economic disasters is a way to discover the role they played in the shaping of the United States’ trade policy. One historic event that has greatly affected the U.S. trade policy in many more ways than one is World War II. Since 1945 and the end of World War II in the world and the United States, the United States trade policy has seen a number of shifts as a direct result of the war. These shifts include: the changing stances on increased protectionism versus trade liberalization of the Democratic and Republican parties, the rise of using nontariff means to supervise trade taking place
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