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William Howard Taft

Presidency

What was “Dollar Diplomacy”?

Dollar Diplomacy referred to the U.S. policy toward gaining economic footholds in countries in Central and South America. Taft and Knox formulated a plan that would use U.S. strength to set up favorable economic positions for U.S. business interests. The term is used pejoratively by some who criticized the United States for overreaching and exploiting foreign countries for economic gain.



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