President William Howard Taft's economic approach to foreign policy was called

Dollar diplomacy

Explanation:

Dollar diplomacy of the United States—particularly during President William Howard Taft's presidential term— was a form of American foreign policy to minimize the use or threat of military force and instead further its aims in Latin America and East Asia through the use of its economic power by guaranteeing loans

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when world war i broke out across europe in 1914, president woodrow wilson proclaimed the united states would remain neutral, and many americans supported this policy of nonintervention. however, public opinion about neutrality started to change after the sinking of the british ocean liner lusitania by a german u-boat in 1915; almost 2,000 people perished, including 128 americans. along with news of the zimmerman telegram threatening an alliance between germany and mexico, wilson asked congress for a declaration of war against germany. the u.s. officially entered the conflict on april 6, 1917.