American president Thomas Jefferson (Democratic-‐Republican party) led Congress to pass the Embargo Act of 1807. Effects on American shipping and markets: Agricultural prices and earnings fell. Shipping-related industries were devastated.
In 1807 the United States Congress passed an Embargo Act that prohibited American ships from trading in all foreign ports. ... The Embargo Act was extremely unpopular in America, however, as it greatly affected the nation's own economy. The act was repealed in 1809.
