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A Foreign Affairs Best Book of the Year: “Tells the history of American trade policy . . . [A] grand narrative [that] also debunks trade-policy myths.” —Economist Should the United States be open to commerce with other countries, or should it protect domestic industries from foreign competition? This question has been the source of bitter political conflict throughout American history. Such conflict was inevitable, James Madison argued in the Federalist Papers, because trade policy involves clashing economic interests. The struggle between the winners and losers from trade has always been fierce because dollars and jobs are at stake: depending on what policy is chosen, some industries, farmers, and workers will prosper, while others will suffer. Douglas A. Irwin’s Clashing over Commerce is the most authoritative and comprehensive history of US trade policy to date, offering a clear picture of the various economic and political forces that have shaped it. From the start, trade policy divided the nation—first when Thomas Jefferson declared an embargo on all foreign trade and then when South Carolina threatened to secede from the Union over excessive taxes on imports. The Civil War saw a shift toward protectionism, which then came under constant political attack. Then, controversy over the Smoot-Hawley tariff during the Great Depression led to a policy shift toward freer trade, involving trade agreements that eventually produced the World Trade Organization. Irwin makes sense of this turbulent history by showing how different economic interests tend to be grouped geographically, meaning that every proposed policy change found ready champions and opponents in Congress. Deeply researched and rich with insight and detail, Clashing over Commerce provides valuable and enduring insights into US trade policy past and present. “Combines scholarly analysis with a historian’s eye for trends and colorful details . . . readable and illuminating, for the trade expert and for all Americans wanting a deeper understanding of America’s evolving role in the global economy.” —National Review “Magisterial.” —Foreign Affairs
Most Favored Nation discusses the movement for tariff revision under Republican administrations in the critical years preceding World War I. Paul Wolman shows how and why some Republicans turned away from their party's -- and the nation's -- traditional tariff reduction and revision. Wolman describes how the revisionists of this period developed a comprehensive program that sought to replace the "logrolling" system of protectionist interest trading that had prevailed in the United States since the 1860s. In its place they proposed a multiple-rate tariff embodying substantial reductions; commercial reciprocity agreements, especially with Germany, France, and Canada; and a "scientific" tariff administered by a commission. According to Wolman, all revisionists hoped to further American leadership in an open-door world economy. But as their movement developed, revisionists split into two competing groups. One group, the "radical" revisionists, wished to use lower tariffs to restrain the growing power of corporations. Led by agricultural implement manufacturer H.E. Miles of Wisconsin, the radical revisionists hoped that freer importation of goods such as steel bars and billets would break the growing strangehold of U.S. Steel and International Harvester on markets for intermediate goods and restore more competitive pricing. The second group, or "cooperationists," accepted the emerging hegemony of large corporations, which were beginning to supplant traditional American propriety enterprises. Encouraged by Theodore Roosevelt and William Howard Taft, these revisionists worked to rationalize the emerging corporate market system and U.S. foreign commercial relations without promoting anticorporate activism. Wolman suggests that through both consensus and conflict, the Republican revisionists of the McKinley, Roosevelt, and Taft era laid the foundation for modern systems of liberal trade. In detailing how they did so, Wolman offers new insights not only on the tariff question but also on related concerns in U.S. foreign economic policy, including business-state relations, corporate development, international treaty making, and imperialism. Originally published 1992. A UNC Press Enduring Edition -- UNC Press Enduring Editions use the latest in digital technology to make available again books from our distinguished backlist that were previously out of print. These editions are published unaltered from the original, and are presented in affordable paperback formats, bringing readers both historical and cultural value.