Back in the day, different nations had their own colors for their racing teams... German cars were silver, British cars were British Racing Green, Italian cars were red, etc...
1. Who established the color code?
2. What color was USA?
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color code was established by the (CSI of the FIA) Code Sportif International of the Federation International de L'Automobile
The US of A's color was White
Interesting side note: Early race cars had a chassis that was visible and many countries chose a second color for this area.
When cars became more low-profile and the chassis disappeared, this second color was moved to Stripes or perhaps a part of the trim. USA's trim/stripe color is Blue.