Imperial Preference

Imperial preference was a system of reciprocally-leveled tariffs or free trade agreements between different dominions and colonies within the British Commonwealth of Nations. The purpose of such practices was to ensure the wealth, and thus unity, of allied imperial nations. While the idea of imperial preference is as old as colonialism itself, it was a practice that was not neccessarily used all the time, did not neccessarily include every nation in the empire, and did not neccessarily apply to every commodity. In North America, it was the cause of the widespread dedication to the idea of free trade in the United States after the 'beggar-thy-neighbour' strategy of protectionist tariffs, which were levied by the United States and Canada, drove North America further into the great Depression. A significant conference in Canadian history is the Commonwealth Conference on Economic Consultation and Co-operation (or the Ottawa Conference) held in Ottawa, Canada, in the summer of 1932.

Related Topics:
Tariff - Free trade agreement - British - Commonwealth of Nations

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