What were the effects of the 1807 trade Embargo during Jefferson's presidency?
(1 point)
France lost 86 million dollars of Imports
• The US exported less goods and lost a lot of money due to the lack of trade.
France was able to gain money from Britain's loss
• Great Britain lost a lot of money, and they had to rebuild their economy from scratch.
The effects of the 1807 trade embargo during Jefferson's presidency were as follows:
1. Economic impact on the United States: The US exported fewer goods and thus suffered a significant loss of revenue due to the lack of trade. This affected various sectors of the economy, especially those dependent on international trade.
2. Economic impact on France: As a result of the embargo, France lost around 86 million dollars of imports from the United States. This loss had a negative effect on the French economy.
3. Economic impact on Great Britain: The British economy was heavily dependent on trade, particularly with the United States. The embargo caused a significant loss of income for Great Britain, forcing the nation to rebuild its economy almost from scratch. This contributed to economic turmoil and challenges for Britain during this period.
4. Shift in alliances: With the US effectively cutting off trade with Britain, France was able to benefit from Britain's loss. This shift in trade relations may have contributed to a strengthening of the alliance between the US and France.
Overall, the trade embargo had negative economic consequences for both the United States and its trading partners, with various effects on specific industries and international relations.