Douglas Irwin in the context of History of tariffs in the United States


Douglas Irwin in the context of History of tariffs in the United States

⭐ Core Definition: Douglas Irwin

Douglas A. Irwin is the John French Professor of Economics in the Economics Department at Dartmouth College and the author of seven books. He is an expert on both past and present U.S. trade policy, especially policy during the Great Depression. He is frequently sought by media outlets such as The Economist and Wall Street Journal to provide comment and his opinion on current events. He also writes op-eds and articles about trade for mainstream media outlets like The Wall Street Journal, The New York Times, and Financial Times. He is also a nonresident senior fellow at the Peterson Institute for International Economics.

Prior to his appointment to as professor at Dartmouth, Irwin was an associate professor of business economics at the University of Chicago Booth School of Business, an economist for the Board of Governors of the Federal Reserve System, and an economist for the Council of Economic Advisers Executive Office of the president.

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Douglas Irwin in the context of Tariff in United States history

Tariffs have historically played a key role in the trade policy of the United States. Economic historian Douglas Irwin classifies U.S. tariff history into three periods: a revenue period (ca. 1790–1860), a restriction period (1861–1933) and a reciprocity period (from 1934 onwards). In the first period, from 1790 to 1860, average tariffs increased from 20 percent to 60 percent before declining again to 20 percent. From 1861 to 1933, which Irwin characterizes as the "restriction period", the average tariffs rose to 50 percent and remained at that level for several decades. From 1934 onwards, in the "reciprocity period", the average tariff declined substantially until it leveled off at 5 percent. Especially after 1942, the U.S. began to promote worldwide free trade. After the 2016 presidential election, the US increased trade protectionism.

According to Irwin, tariffs were intended to serve three primary purposes: "to raise revenue for the government, to restrict imports and protect domestic producers from foreign competition, and to reach reciprocity agreements that reduce trade barriers."

View the full Wikipedia page for Tariff in United States history
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