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So Ford can simply build there and there is no tariff or charge
whatsoever??
Is it 1930?
Smoot–Hawley Tariff
Threats of retaliation began long before the bill was enacted into law in June 1930. As it passed the House of Representatives in May 1929, boycotts broke out and foreign governments moved to increase rates against American products.
The dutiable tariff level under the act was the highest in the U.S. in 100 years. The great majority of economists then and ever since view the Act, and the ensuing retaliatory tariffs by America's trading partners, as responsible for reducing American exports and imports by more than half.
Unemployment was at 8% in 1930 when the Smoot–Hawley tariff was passed, but the new law failed to lower it. The rate jumped to 16% in 1931, and 25% in 1932-33. U.S. imports decreased 66% from $4.4 billion (1929) to $1.5 billion (1933), and exports decreased 61% from $5.4 billion to $2.1 billion. Thus, net exports declined from $1 billion to $600 million
According to government statistics, U.S. imports from Europe decreased from a 1929 high of $1,334 billion to just $390 million during 1932, while U.S. exports to Europe decreased from $2,341 billion in 1929 to $784 million in 1932. Overall, world trade decreased by some 66% between 1929 and 1934
Don't let me spoil it for you. But do you know what comes next when economies fail, countries cut each other off, and blame their internal problems on outside forces?
That was a poorly timed response to an economy that was already in collapse. The US was a net exporter then, so a trade war was not going to help anyone.
But we have more recent data. Globalization and policies to support it, have resulted in high trade deficits, flat wages (escalating income and wealth disparity), low production and infrastructure investment, and escalating fiscal and private debt, for 40 years and counting. If we don't get trade in balance there will be no recovery.
He doesn't have a point on this subject where I'm concerned.
But thanks for pointing out that Trump's protectionism and tariff proposals put him in the I'm No Conservative Because... column.
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