I haven’t been a free trader since I read Pat Buchanan’s book The Great Betrayal.
As tariffs have gone down, income taxes have gone up. I’m for a revenue, not a protective tariff, basically a cover charge to get into the American market. Say, 5-10%, which is not a “trade barrier” but a cover charge.
I’m sure the Smoot and Hawley argument crowd will be parachuting in in 3...2...1...
Free Trade doesn’t work for a myriad of reasons...of course the biggest one is the other side must Free Trade with you...but does not.
Most nations put a Value Added Tax on US Imports...right there that is a tariff on US goods...and such is allowed by the World Trade Organization. The US is robbed when not countering with a tariff.
Smoot-Hawley Tariff not the cause of the Great Depression as many Free Traders claim. Europe had already tariffed and blocked goods coming from the Americas...S-H had to be done to counter
No kidding. We dropped tariffs after WWII, when income tax rates topped out at 90%, and when Reagan left office, the top income tax rate was 28%.
I blame falling tariffs.
basically a cover charge to get into the American market. Say, 5-10%
You want Americans to pay your cover charge? But we're already here.