Trade Talks Episode 23: Did Protectionism Make America Great?
PIIE Senior Fellow Chad P. Bown and Soumaya Keynes of The Economist talk with PIIE Senior Fellow Douglas Irwin about his recent book "Clashing over Commerce: A History of US Trade Policy" and the role that protectionism played in the US economy during its industrial development of the 19th century. They examine Henry Clay’s proposal for an "American system," the Jeffersonian trade embargo of 1807–09, as well as the theoretical arguments for—and the practical arguments against—the benefits of "infant industry" protection. They also discuss why new tariff protection today would be unlikely to help President Trump make America great.
Chad P. Bown (PIIE) and Soumaya Keynes (The Economist)