How have the major U.S. trade policies changed since the inception of international trade? Research the policies covered on Page 1 of the Module 4 lecture and provide a historical overview of each. What are the current benefits and drawbacks of each in the global trade environment?
Your paper should be 4-6 pages in length, not including the title or reference pages, and conform to CSU-Global Guide to Writing and APA Requirements. Include at least three academic peer-reviewed journal article references in addition to the course textbook. The CSU-Global Library is a good place to find these references.
Interactive – Permanent
Title: Module 4, P1 – Course: ECN500
Type: Timeline
Item Title: Protectionism
Item Content: Protectionism in the early national period in the United States with the objectives of gaining revenue for the government and protecting domestic industry
Item Title: Tariff of Abominations
Item Content: The Tariff of Abominations and North-South differences with respect to tariffs versus liberalized trade
Item Title: McKinley and Kingley Tariffs
Item Content: The McKinley and Kingley Tariffs and the argument that cheap foreign labor caused inflows of goods that were not beneficial to the national economy
Item Title: Smoot Hawley Tariff
Item Content: The Smoot Hawley Tariff and why this was a bad idea during a recession/depression
Item Title: 1934 Reciprocal Trade Agreements
Item Content: Restoration of trade with the 1934 Reciprocal Trade Agreements and associated wave of trade liberalization
Item Title: General Agreement on Tariffs and Trade (GATT) & World Trade Organization (WTO)
Item Content: Movement toward systematic multilateral liberalization under the General Agreement on Tariffs and Trade (GATT) beginning in 1947 and the World Trade Organization (WTO) beginning in 1995
