The significance of the Embargo Act was the American economy's devastation and a war fought between Britain and America. America's exports dropped by $86 million due to the act, according to the Miller Center.
Former U.S. President Thomas Jefferson requested the drafting of the Embargo Act. The act was passed by U.S. Congress on December 22, 1807. Initially, it was passed to ban imports, but later, it was extended to ban exports too. The act was enacted mainly because of the anger that Americans felt after the British warship Leopold's attack on Chesapeake, the American naval frigate. Thinking that U.S. farm products were important to Britain and France, Thomas Jefferson banned all exports to European countries, but this resulted in a negative impact on the American economy. So, the Embargo Act was repealed and was replaced with the Non-Intercourse Act instead.