The Return of Mercantilism and Trade Competition Between Nations: The Value Implications and Historical Inertia of U.S. Import Ban Measures

Abstract

In recent years, the United States has increasingly emphasized the role of import bans in the execution of its trade policy, strengthening the enforcement of bans on specific products and countries. In this context, it is important to consider the value implications of U.S. import ban measures and whether their widespread implementation has historical continuity. An analysis of the value of U.S. import bans reveals that they reflect mercantilist values and inter-nation competition, aiming to protect domestic industries and related products from foreign competition while imposing trade sanctions on specific rival countries. Furthermore, an examination of the historical implementation of U.S. import bans shows their presence throughout key periods, including the American War of Independence, both World Wars, the Cold War between the U.S. and the Soviet Union, and the current era of multilateralism. Thus, U.S. import bans, as part of its longstanding trade policy, continue to persist, and their expansion in the current context is merely a repetition of history. The measures themselves will not disappear entirely, regardless of future changes in U.S. trade policy.