Excerpted and condensed from:
Of Restraints upon the Importation from Foreign Countries
of such Goods as can be produced at Home
"There seem, however, to be two cases in which it will generally be advantageous to lay some burden upon foreign for the encouragement of domestic industry...
- The first is, when some particular sort of industry is necessary for the defence of the country....
- The second case, in which it will generally be advantageous to lay some burden upon foreign for the encouragement of domestic industry is, when some tax is imposed at home upon the produce of the latter. In this case, it seems reasonable that an equal tax should be imposed upon the like produce of the former....
The economic burdens that you admit the feds place on domestic industry are essentially a form of taxation. Therefor, the steel industry qualifies for tariff protection under BOTH conditions specified by Adam Smith.
How many steel jobs are there now? 10 million? 20 million?<
Employment in the steel industry declined to about 170,000 wage and salary jobs in 2002.
63% of the workforce is nonunion, so it is disingenuous to showcase labor organization as a boogeyman.
What about claiming that American factory workers cannot compete with folks earning $1 per hour, then?
Okay, you and I agree that steel is necessary for defense, but how much steel is necessary? Your chart showed we produced 101.5 million tons in 2000. Is 50% needed for defense? 20% Or 120%?
In this case, it seems reasonable that an equal tax should be imposed upon the like produce of the former
Sounds reasonable. So how much tax on foreign steel would equal the domestic tax on American steel?
Employment in the steel industry declined to about 170,000 wage and salary jobs in 2002.
Hmmmm...I have a feeling more Americans are employed in steel using industry. Is it fair to punish them to protect 170,000 steel making jobs?
63% of the workforce is nonunion, so it is disingenuous to showcase labor organization as a boogeyman.
I'd be interested in how many union workers work in mini-mills and how many nonunion workers are employed by the integrated mills.