Final answer:
American businessmen initiated the overthrow of the Hawaiian monarchy and the subsequent annexation of Hawaii by the U.S. due to economic interests in the sugar industry and potential losses following changes in tariff laws and Queen Liliuokalani's push for reforms to decrease foreign influence and empower native Hawaiians.
Step-by-step explanation:
What led American businessmen to initiate the revolt in Hawaii was primarily the threat to their economic interests, especially concerning the lucrative sugar industry. The United States had developed a strong economic link with Hawaii through the sugar trade. American planters owned many sugarcane fields and were exporting large quantities of sugar tariff-free due to reciprocal trade agreements. However, the McKinley Tariff of 1890 imposed taxes on foreign sugar, including Hawaiian sugar, which threatened the profits of these planters. The situation escalated when Queen Liliuokalani, who ascended to the throne in 1891, aimed to reform the political power structure to favor native Hawaiians over foreign businessmen. This led to the American planters orchestrating a coup in 1893 with the support of U.S. Minister John Stevens and armed forces to protect their interests. Eventually, this led to the annexation of Hawaii by the United States in 1898.