America's Protectionist Past Resurfaces, Reshaping Global Trade Dynamics
The article explores the history of American trade policy, focusing on its shift towards protectionism after the subprime mortgage crisis. It reveals that the United States has leaned towards protectionist trade policies periodically throughout its history, with free trade becoming prevalent only after economic dominance was established. The recent return to protectionism post-crisis is not a complete departure from the American tradition, but rather a continuation of historical patterns. In essence, American economic policy has fluctuated between protectionism and free trade over time, influenced by different economic circumstances.