Pasquale Sgro

Nov 10, 2024 | onlinelibrary.wiley.com | Ben Li |Yi Lu |Xing Xu |Pasquale Sgro

1 Introduction The two major political parties in the United States – the Republican Party and the Democratic Party – switch their stances on free trade from time to time. The most recent switch happened in the last century, when the Republicans, who proposed the Smoot–Hawley Tariff Act and sparked a trade war among industrialized economies in the 1930s, became the party more supportive of free trade in the second half of the century.