I've been reading lately that he actually was a proponent for laissez faire, and that surprised me greatly. I've always took it upon myself that he was actually a protectionist with a strong federal power.
After all did he not regulate the market, close some banks and what's more striking to me, contracted the federal reserve and re-balanced the budget by cutting government spendings in 1937? And that OUT OF FEAR of inflation, so was he not trying to protect the economic flow?
I'm at loss. I'd appreciate any clarification on the matter, thank you!
Although he encouraged Keynesian spending domestically, FDR was a free trade believer internationally. Among his counterparts globally, he advocated for the dismantling of protectionist or mercantilist blocs. The reason for this was ensure the United States would have easy access to export markets. FDR understood that if the US' goods were put on an equal footing they could outcompete in any market.
One instance was FDR negotiating Lend-Lease Aid and loans to the British dependent upon them dismantling the Imperial Preference System Churchill had supported. The Imperial Preference System privileged the British and their colonies above other goods within the Empire. FDR lobbied Churchill to have these barriers removed if the U.K. wanted American aid in preparing for World War II.
US tensions with Japan also increased due to Japan's protectionist Greater East Asian Co-Prosperity Sphere which used colonies in Southeast Asia to support Japanese industry and then privilege Japanese exports to their colonies. The US condemned this following its policy of an Open Door in China under FDR's leadership.
FDR's Keynesianism is not antithetical to free trade which was a cornerstone of his foreign policy.
Sources:
The American Age by Walter LaFeber