In the discussion thread: Trump preparing withdrawal from South Korea trade deal [View all]
Response to karynnj (Reply #9)
Sat Sep 2, 2017, 11:17 PM
TomCADem (17,281 posts)
19. It Is Understandable That Trump Would Push a Herbert Hoover Type of Trade Policy...
When campaigning for president during 1928, Republican Herbert Hoover's promise to help domestic industries from being undercut by cheaper foreign goods by increasing tariffs. He won, and was successful in increasing tariffs on many competing European goods, which help drive Europe into a depression. This depression helped plant the seeds for extremism.
I can see why Trump would would push a xenophobic, isolationist trade and immigration policy. It does resonate well with the fears of many Americans by scapegoating the "other" while ignoring the obvious targets of oppression, which are elites at home who enjoy low taxes and whose industries might also benefit from a competitive advantage relative to foreign competitors. Indeed, Brexit showed that trade and immigration were nice code words for demonizing non-white immigrants with the UK suddenly trying to maintain its trade agreements even as it heightens barriers to immigration. Populist rhetoric is about scapegoats and racism disguised as concern for American workers. This is why people of color need to hold the left and Democrats accountable. Sadly, they too are starting to adopt and echo Trump's anti-trade and anti-immigration rhetoric. It is too easy to scapegoat foreigners for domestic ills resulting from a system that is tilted against American workers. https://www.britannica.com/topic/Smoot-Hawley-Tariff-Act Smoot-Hawley Tariff Act, formally United States Tariff Act of 1930, also called Hawley-Smoot Tariff Act, U.S. legislation (June 17, 1930) that raised import duties to protect American businesses and farmers, adding considerable strain to the international economic climate of the Great Depression. The act takes its name from its chief sponsors, Senator Reed Smoot of Utah, chairman of the Senate Finance Committee, and Representative Willis Hawley of Oregon, chairman of the House Ways and Means Committee. It was the last legislation under which the U.S. Congress set actual tariff rates. |
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DonViejo | Sep 2017 | OP | |
bettyellen | Sep 2017 | #1 | |
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