Author(s)

Joshua Ma

Corresponding Author

Joshua Ma

Abstract

Throughout human history, trade has been a consistent and controversial theme for the rise and fall of political regimes. According to economist Ronald Findlay’s Power and Plenty, trade could have a tremendous impact on the strength of regimes through promoting regimes’ financial abilities and incentives. Due to such influence, countries that gained myriads of trade opportunities and benefits after the First and Second Industrial Revolutions including the United States and Britain, must regulate and protect trade in order to maximize the regime's benefits. Thus, Anglo-American trade protectionism was born. This article focuses on the mechanism of international trade barriers and its ideological basis of Anglo-American protectionism. This article deeply analyses the traditions and differences of Anglo-American protectionism, such as the use of tariff, protection of local employment and direct subsidies.

Keywords

Mercantilism, Thomas Munn, Alexander Hamilton, Protectionism, Tariff, Subsidy