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Period: to
During the period from the 1890s to 1914, the United States focused on both building and protecting its foreign trade through various strategies
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Expansionism
The U.S. followed an expansionist policy during this time, seeking to expand its markets overseas. This led to increased diplomatic efforts to secure favorable trade agreements with other countries, as well as military interventions in regions like Latin America and Asia to protect American business interests. -
Open Door Policy
The concept of the Open Door Policy, advocated by the U.S. in the late 19th and early 20th centuries, aimed at promoting equal access for all nations to trade with China. This policy helped the U.S. gain a foothold in the Chinese market and expand its trade opportunities in Asia. -
Tariff Policies
The U.S. implemented protective tariffs to shield domestic industries from foreign competition. The McKinley Tariff Act of 1890 and the Payne-Aldrich Tariff Act of 1909 were examples of protectionist measures that aimed to support American businesses and workers. -
Panama Canal
The construction and control of the Panama Canal, completed in 1914, played a significant role in facilitating trade between the Atlantic and Pacific Oceans. The canal boosted American trade by providing a quicker route for ships traveling between the East and West coasts of the U.S. and beyond. -
Dollar Diplomacy
Under President William Howard Taft, the U.S. pursued a policy known as Dollar Diplomacy, which involved using economic leverage to expand American influence in Latin America and East Asia. This approach aimed to promote U.S. economic interests abroad while maintaining political stability.