‘Protectionism’ is the opposite of so-called ‘Free Trade’.
Many economists say that every industrialized major country in history, had some degree of economic protection.
Apparently American importers of lumber from Canada and steel from China as well as thousands of other products, are pocketing millions of dollars every day by gouging the American consumer. And exporting American jobs to foreign countries.
The Prez is getting a lot of criticism for protecting the USA. But the fact is protectionism is not a new idea at all.
Alexander Hamilton, advocated tariffs to protect America from foreign speculators.
George Washington signed the Tariff Act in 1789.
Just like Trump, Washington and Hamilton believed in economic independence and supporting
American industry, which, even back then, it was seen as a matter of national security
Thomas Jefferson said something like “Industry is as necessary to our independence as it is to our comfort”.
Even advocating a ‘boycott’, He said, “I will purchase nothing foreign where a similar domestic product is available, without regard to price.”
Abraham Lincoln strongly opposed free trade. This policy was continued by Presidents Grant, Roosevelt and McKinley.
Quote:- “Protection is but the law of nature, the law of self-preservation, of self-development, of securing our highest and best destiny.”
Fortunately Trumps’ talk of tariffs is immediately discouraging the money-grabbing American importers from buying timber from Canada, thus saving thousands of American jobs in the lumber industry.
Candidate Trump promised to expand American industry and “put new American steel into the spine of this country.”
Now, President Trump said, “Steel is critical to both our economy and our military. This is not an area where we can afford to become dependent on foreign countries,”
Big business and even trade unions said this will “Lure our companies back”.
My question is “What do you mean by “Lure Back”?
As I see it, it’s the billionaire owners of big business who are guilty of sacrificing American workers, so they can haul in bigger and bigger profits.
The media says that imported products are cheaper for American consumers.
But, of course it just another lie.
You’d think that, by now, these super-smart money grabbers would have figured out that your employees, are my customers. (And Vice-Versa).
If you lay off a million workers, that’s a million less buyers for the rest of us.
Instead of fighting with Canada, China and many other foreign manufacturers, I want to know the names of these people, and ask them why they don’t “Buy American”?
’til next time . . .