Imperial Economic Conference

Canada [1932]

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June 29, 2026

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The Imperial Economic Conference in Ottawa in 1932 established the Ottawa Agreements. This marked a significant shift in the United Kingdom's tariff policy, moving towards a system of imperial preference. The core principle was to prioritize producers within the empire, with the UK offering preferential rates on imports from Commonwealth nations while also imposing new tariffs on certain foreign goods. This policy was largely a response to the Great Depression and the global trend towards protectionism, exemplified by the Smoot-Hawley Tariff Act in the United States. While trade within the empire did increase following the conference, other economic factors also played a role. The system of imperial preferences gradually diminished in importance after World War II due to changing global trade dynamics and agreements like the General Agreement on Tariffs and Trade (GATT).

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imperial preference
…producers last”—was negotiated at the Imperial Economic Conference in Ottawa in 1932 and took the form of a series of bilateral agreements intended to extend for five years (lacking a formal renewal, they expired after 1937).
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…producers last”—was negotiated at the Imperial Economic Conference in Ottawa in 1932 and took the form of a series of bilateral agreements intended to extend for five years (lacking a formal renewal, they expired after 1937).
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Canada
The Great Depression
…the Commonwealth, securing at the Imperial Economic Conference of 1932, held in Ottawa, a series of preferential tariffs, known as the Ottawa Agreements, among the Commonwealth countries (see imperial preference). When the Ottawa Agreements failed to produce the desired results, he approached the
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…the Commonwealth, securing at the Imperial Economic Conference of 1932, held in Ottawa, a series of preferential tariffs, known as the Ottawa Agreements, among the Commonwealth countries (see imperial preference). When the Ottawa Agreements failed to produce the desired results, he approached the
Read More