FDR (espec. Cordell Hull ) favors free trade for post WW2 period
1947 -- Congress rejects International Trade Organization treaty proposed initially at Bretton Woods
The GATT becomes the main trade regime
Figure 3-1. Average U.S. Tariff Rates on Dutiable Imports, 1821-2000, in Percentages Source: U.S. International Trade Commission; U.S. Department of Commerce, Bureau of the Census, Historical Statistics of the United States ; and Statistical Abstract of the United States , various years.
Figure 3-2. Growth in World Exports, 1958-2006, in Billions of Current Dollars Source: International Monetary Fund, Direction of Trade Statistics Yearbook (various years).
Figure 3-3. Trade/GDP in the US, Britain, Germany, France, and Japan, 1960-2006, in Percentages Sources: World Bank, World Development Indicators 2001 CD-ROM (Washington, D.C.: World Bank, 2001): OECD.Stat, http://stats.oecd.org/ .