Imports : pros and cons
Krogh, Peter F. (Peter Frederic)
Person InterviewedPelzman, Joseph
Greenwald, John D.
Examines trade protectionism in the face of cheap imports, particularly in the textile industry.
For centuries, the question of how the United States should manage its relationship with foreign suppliers has been central to American foreign policy. In the 1980s, as recently industrialized and developing nations began to flood American textile, steel, and auto markets with less expensive goods, industries in the United States clamored for more government protection. Among these industries, the American textile industry felt particularly threatened by imports. Buoyed by the availability of cheap labor and the low amount of capitol required to enter the industry, developing countries surged into the global textile market, and by 1983 foreign manufacturers produced more than half of the clothing purchased in the United States. Seeking to remain competitive, the American textile industry began to push for more quotas and tariffs on imported textiles. However, critics argued the American textile industries were already overprotected, and that rather than increasing the protection, it should be decreased. In this episode, host Peter Krogh sits down with George Washington University economics professor Joseph Pelzman and former Deputy Assistant Secretary of Commerce John Greenwald to examine the question, is protectionism at home the correct response to competition from abroad?
Textile fabrics -- United States; Textile industry -- United States; Import quotas -- United States; Tariff -- United States; Foreign trade regulation -- United States; Textile industry -- Government policy -- United States; Competition, Unfair -- United States; International Economics, Trade and Business; United States Public Policy and Politics; Protectionism; Import Quotas; Tariffs; Textile Imports; Textile Industry; Free Trade;
North America; United States;
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