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Since 1890, the growth of Eastern nations’ power was perceived as an imminent threat by broad sectors of American society, articulated under the concept of the ‘yellow peril’. This paper examines the positions of the Socialist Party of America (SPA) on this notion between 1904 and 1908, a period marked by increasing diplomatic tensions between Japan and the United States. Through an analysis of the SPA press and the minutes of its conventions, the study identifies how the party comprehensively addressed the three main meanings of this concept: economic competition from Asian immigrants, the industrialization of the East, and the rise of Japan as an imperialist power. These aspects were of great importance for shaping the SPA’s positions on imperialism, colonial policy, and inter-imperialist war. On the one hand, the anti-immigration sentiment within the SPA undermined any potential for bonds of friendship and internationalism with Japan and also affected its critique of colonial policy, which focused on the competition from native workers. On the other hand, Japan’s modernization and rise as an imperialist power rendered imperialism no longer a viable strategy for American capitalists, ultimately contributing to the collapse of capitalism due to its failure to find new markets. [ABSTRACT FROM AUTHOR]