GLOBALIZATION AND ECONOMY PROTECTION IN THE US TRADE POLICY DEVELOPMENT

Using the comparative method, the article analyses the U.S. trade policy and economy protection in different globalization periods. Globalization is a crucial process that forms world economy. Within it, as already mentioned A. Smith, trade represents the cornerstone of international economic relations. In the individual states, the trade role always depends on their economic level and integration into the world economy, which also determinate the character of the trade policy in different periods. The USA can be an illustrative example of that policy formation as well as of the change of its character under globalization. During the U.S. economy initial phase, for specific reasons (infant industry) its external protection was rather strong. Later in 19th century, the paradigm of independent economic development was formed, optimised under significant custom protection. The approach was mostly kept until 1930s and justified by the U.S. large internal market, relative self-sufficiency, non-developed globalization or world economic crises prevention. After World War II the USA were hit by a huge globalization drive, and their economy gradually opened. Undoubtedly the USA benefited from their position strengthening during the War as well as from globalization development. However recently, President Trump has started to criticise globalization and the U.S. trade liberalization using the protective ideas of the fathers-founders (thought applied under different conditions) as his new economic policy argument. In contrast, economic theory and practical experience show the advantage of the free trade for the USA even in the top globalization phase.