The TWP fell out of power following the 1980 Liberian coup d'état in which many of its leading members died or fled, ending its dominant position.
[6][7][8] It presided over a society in which black American settlers and their descendants, known as Americo-Liberians, though a small minority of the population, constituted nearly 100% of the citizens able to vote.
Under the leadership and Presidency of William Tubman, the TWP took a pro-American stance in international policy, encouraged foreign investment, promoted industrialization and embarked on a mass modernization program of Liberia's domestic infrastructure.
Although opponents of Tubman's government accused it of being authoritarian, Liberia was widely regarded internationally as being a stable and successful nation in the region whilst other African states were undergoing civil wars and political strife.
Tolbert diverted from the TWP's traditional policies by seeking to stress Liberian sovereignty and political independence, as opposed to a nation reliant on international businesses and governments.
He initiated some socially liberal reforms, pledged stricter regulation of foreign businesses operating in Liberia, granted official recognition status to opposition parties and tried to re-balance economic disparities between Americo-Liberians and native ethnic tribes.
He also pursued open diplomatic and economic relationships with the Soviet Union and shifted Liberia's focus to other African nations as opposed to the West.
[14] However, some of these reforms were reversed following the Maryland County ritual killings and the Rice Riots in which Tolbert called for the arrest of opposition leaders.
The party lost power after Tolbert was killed in a military coup on 12 April 1980 by a group of AFL soldiers led by Samuel Doe, who formed the People's Redemption Council (PRC).
TWP chairman Momo Fahnbulleh Jones threatened legal action to induce the newly founded party to change its name.
The TWP registered to compete as an individual party for the House of Representatives in the 2011 general election, while endorsing President Ellen Johnson Sirleaf's bid for a second term at Presidential level.
[19][15] In 2015, the TWP appointed former government information minister Reginald Goodridge as its new chairman and was successfully registered to stand as an individual party for the 2017 election but ended up gaining 0.96% of the vote.
[1] Although the party favored protectionism in its early years, it later pursued deregulation, free-market and economically liberal policies known as the "porte ouverte" ("open door") under Tubman to attract investment and stimulate growth.
Under the leadership of William Tolbert (who sought to stress Liberia's political independence), the ruling TWP shifted away from a pro-Western stance to a neutral posture by fostering partnerships with other African states and opening up relationships with the Soviet Union, China and Eastern Bloc nations, pursuing liberal domestic policies and attempting to bring more native Liberians into governing circles.