POL 373 Chapter Notes - Chapter 3: Europe 1
22 Dec 2017
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Because of all these factors, trade barriers were strongly favored till the late 19th century. Businesses came to believe tariff protection was a right. Also, because republicans held the power for long amounts of time. After world war i. the united states had a great strategic and economic position/advantage. The united states was poised to dominate the world if it had broken from isolationism but those policies never came about. It wouldn"t be until the great depression and world war ii that the united states would break from isolationism. Americans wanted self-sufficiency and to avoid the possibility of hostile economic coercion. Also wanted to protect new industries created during the war. Scientific tariff: tariff designed to ensure that foreign producers couldn"t undercut united states firms. American selling price (asp): device to calculate some duties not based on foreign price but on how much production costed united states producers.
