In the United States Protectionism

tariff rates(france, uk, us)



average tariff rates in (1821–2016)



u.s. trade balance (1895–2015)

according economic historian douglas irwin, common myth u.s. trade policy low tariffs harmed american manufacturers in 19th century , high tariffs made united states great industrial power in late 19th century. review economist of irwin s 2017 book clashing on commerce: history of trade policy notes:

political dynamics lead people see link between tariffs , economic cycle not there. boom generate enough revenue tariffs fall, , when bust came pressure build raise them again. time happened, economy recovering, giving impression tariff cuts caused crash , reverse generated recovery. mr irwin methodically debunks idea protectionism made america great industrial power, notion believed offer lessons developing countries today. share of global manufacturing powered 23% in 1870 36% in 1913, admittedly high tariffs of time came cost, estimated @ around 0.5% of gdp in mid-1870s. in industries, might have sped development few years. american growth during protectionist period more abundant resources , openness people , ideas.

according paul bairoch, united states mother country , bastion of modern protectionism since end of 18th century , until post-world war ii period.