But the jobs didn’t come back.
Walter Williams talks trade.
Wrong. There are punitive tariffs and there are protective tariffs. Anyone who DOES NOT agree with Trump on this matter will be required to always have customer service calls tended to by a citizen of the Sub-Continent.
An unanswered question: Once China has completely eliminated the United States steel industry and gained a monopoly, will they still sell their steel cheap?
Would the Chinese ever attempt blackmail once they have achieved monopoly control over steel production? Are they too righteous to do so?
What if we have a war, and have no steel industry to fall back on?
I respect and admire Dr Williams, but he is so wrong on this issue. First of all, he misstates Donald Trumps strategy, his strategy is to get to true free trade by first getting to fair trade. His threat to raise or create tariffs is for negotiation purposes primarily. But, like in steel even if we have to do this temporarily most or even all of the economic cost will be absorbed by new jobs created. Secondly, as an Academic Williams looks at the world as a perfect model...with some exceptions, when figuring out economic policy strategy. When only one side offers free trade, there is no free trade. We have surrendered tens of millions of good jobs to other nations who have absolutely no incentive to offer free trade and take advantage of us. They donate (buy) our politicians for special favors and encourage reduced competition within the US! From our own companies!
I hope Trump hired Walter Williams to give him economic advice
You can be a globalist or patriot but not both.
>>Pearson suggests that the United States should send China this message: “Thank you for transferring so much wealth from China to the United States by selling low-priced steel. It’s helping to keep our large manufacturing sector globally competitive.”
What part of our large manufacturing sector is globally competitive?
Economic prigs like Williams can never acknowledge that there are many benefits to tariffs. That is why a sane logical discussion is never possible with Free Traitors™. I hope they all rot in hell.
This is very backward looking. Nowhere does Williams account for innovation in American manufacturing. Innovation cannot take hold on a wide scale until existing arrangements are made to exit.
It’s so similar to the oil patch. Why stop buying from Saudi Arabia when domestic is not readily available was the question 10 years ago. Fracking tech answered that question and the result is pipelines and terminals are flooded with domestic supply, and prices at the pump are half what they were six years ago.
The Chinese operate sweatshops and harm the environment greatly in the process. Should Americans tell them their arrangement is on the way out, they will respond with lower prices and try to stop domestic production in the same fashion that the Saudis tried and are still trying to undercut domestic oil production. These foreign entities want American producers bankrupt, sidelined out of the game, and out of the way of their market share.
Americans and American innovation can compete handily with the Chinese. All that is needed is for political leadership to ratchet up the movement. Donald Trump knows just what to do.