And this makes Congress imposing more taxation on US corporations' overseas revenue (the idea I was responding to in Post #123) a good idea because...?
(Cue "Final Jeopardy" theme)
I do not support any increase in taxation to try and fix the US economy with the exception of tariffs offset by reductions in the Corporate income tax. If we eliminate the corporate income tax on all goods produced in America at the same time then those goods entirely produced in America will have an approximately 25% reduction in cost. The modifications or added value to any import will also be subject to teh same level of cost reduction.
In short I was merely givinbg some facts because I thought some facts would be useful indiscussing these issues. By the way I am doing a detailed study of the specific declines in trade and howthey correlate to foreign tariffs on US goods August 1930 through 1936, when American exports started climbing again. I will post when I get it finished. so far my results are showing most of the decline is not in the period from 1930, 1931 and 1932. Most of it was in 1922, 1934 and 1935 after american tariffs were lowered with some specific trading partners. Although the overall percentage of the exports to the total GNP did decline from 1929 until 1936 the caus eis very much up in teh air as the UK was our primary trade partner with Germany also up there. I am needing to discount Japan and china due to their war and Italy due to its invasion of Ethiopia. This has no relationship other than background to the discussion.
As for the solution it to structurakl problems it boils down to enforcing our laws, giving everone who works in the USA a stake in the USA as an immigrant rather than a guest worker, reducing regulations and using tariffs to get fair trade and when tariffs are totally gone from exports by the USA to foreign nations we will in mutual agreement remove our tariffs from imports from those nations.
In short I amin total rejection of the Uruguay Round priciples.