Protectionism is the economic policy of shielding an economy from imports. Most emerging economies want to follow an economic policy of protectionism, letting their own fragile economies grow while keeping out products from other countries. The United States was no exception. Alexander Hamilton was our first Secretary of the Treasury and our first protectionist. In the very first Congress he supported a set of tariffs on foreign products imported into the United States. For most of the nineteenth century, the tariff was the major source of federal revenues. (Edwards, 558)
Protectionism is the economic policy of shielding an economy from imports. Most emerging economies want to follow an economic policy of protectionism, letting their own fragile economies grow while keeping out products from other countries. The United States was no exception. Alexander Hamilton was our first Secretary of the Treasury and our first protectionist. In the very first Congress he supported a set of tariffs on foreign products imported into the United States. For most of the nineteenth century, the tariff was the major source of federal revenues. (Edwards, 558)
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