Congressional assault on free trade
Krogh, Peter F. (Peter Frederic)
Examines the push for protectionist legislation in the wake of America's rapidly rising trade deficit.
In 1985 the U.S. trade deficit soared to over $150 billion, resulting in a massive legislative effort that threatened to undermine America's historical commitment to free trade. While some policymakers attributed the spike in imports to the strength of the U.S. dollar, others blamed what they viewed as unfair practices by foreign countries in international trade. In an attempt to "level the playing field" for American companies, Congress proposed a number of import restriction measures. Yet while these measures were designed to protect American jobs, critics pointed out that they would also cause prices to rise, benefiting a relatively small group of workers at the expense of many consumers. Advocates of free trade also warned that protectionist legislation could cause other countries to retaliate with trade barriers of their own, setting off an international trade war. In this episode, Congressmen Butler Derrick of South Carolina and Rodney Chandler of Washington State discuss the growing trade deficit and the push for protectionist legislation on Capitol Hill.
United States -- Commercial policy; Foreign trade promotion -- United States; Protectionism -- United States; Free trade -- United States; United States -- Economic policy -- 1981-1993; International Economics, Trade and Business; United States Public Policy and Politics; Trade Deficit; Free Trade; Protectionism; Strong U.S. Dollar; Trade Barriers; Trade Wars;
North America; United States;
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Krogh, Peter F. (Peter Frederic) (Jefferson Communications Inc.Georgetown University. School of Foreign Service, 1983)Examines protectionist legislation proposed in the face of a rising tide of cheap imports and a global recession.
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