More libertarian nonsense.
Does the nation require US manufactured tools, dies, steel, etc? Obviously.
So.
"Compete cost-effectively with imported products" (i.e., reduce US workers to penury and fail to incentivize Young people to learn resource extraction, refining, and manufacture)?
There's a lot easier way to fix this problem.
Hang the bankers. Close the ports to foreign imports. When they try to sneak in? Close the borders and sink the ships.
Close the ports to foreign imports.
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Because no one needs food or medicine, that will show ‘em!!