Coincidentally we lowered the import tariffs in the 1960’s to just 1%.
I say coincidentally because we won’t stop at a pair back of real wages to the 1968 level. We’re going to keep reducing the real wage in this country until either we raise the import tariffs or our real wages matches the Chinese.
Yeah but cost of living won’t compare to China or S. America. Consider even owning a clunker still requires insurance.