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In reply to the discussion: US announces withdrawal from TPP [View all]tirebiter
(2,532 posts)54. FDR established free trade as a fundamental of sound economics
Look up Smoot-Hawley.
http://money.cnn.com/2016/07/07/news/economy/trump-trade-smoot-hawley/
They were trying to protect American jobs from global trade.
In 1930, Congress slapped tariffs on all countries that shipped goods to America in an effort to shield U.S. workers.
It was called the Smoot-Hawley Act, named after two Republicans Congressman, Reed Smoot and Willis Hawley.
And it is widely accepted that it made the Great Depression worse than it would have been.
"Smoot-Hawley really demonstrated what a bad idea tariff increases are," said Alan Deardorff, a trade expert at the University of Michigan.
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Problem is protectionism can sometimes make things worse like it did after the
cstanleytech
Jan 2017
#20
I agree 100%. China will now dominate the largest consumer market of this century - Asia.
Trust Buster
Jan 2017
#35
Agreed, and the shortsighted America will see higher prices and a loss of potential American jobs
Trust Buster
Jan 2017
#58
agree. I feel for all the small asian pacific countries who loved the idea of their own free trade
Sunlei
Jan 2017
#73
I 100% agree I like Obama but I hated the TPP. I miss Obama already though :(. n/t.
ZM90
Jan 2017
#30
No, the problem is not that they need to go away as retailers employee alot of people the problem is
cstanleytech
Jan 2017
#22
The bigger problem to me is that most of their products are made in Third World countries where
jalan48
Jan 2017
#24
Yeah-those sweat shops are so much better than what they have been doing for centuries.
jalan48
Jan 2017
#55
Actually, in Mexico workers were forced off their farms and into manufacturing centers.
jalan48
Jan 2017
#59
Good. The guy is still a fascist, but getting out of TPP and renegotiating trade agreements
PatrickforO
Jan 2017
#21
That means Mexico can ask for renegotiation of the Treaty of Guadalupe Hidalgo.
roamer65
Jan 2017
#33
You are correct. This will be a two way street that will increase price and cost U.S. jobs.
Trust Buster
Jan 2017
#37
Many on the left refused to acknowledge what you talk about here, and contributed
Squinch
Jan 2017
#80
"This reduces the wholesale price of Melania and Ivanka's cheap, tawdry crap by at least 30 percent"
jmowreader
Jan 2017
#44
ALL TPP countries love the extra billions in trade & China is happy to take USA Asian Pacific seat.
Sunlei
Jan 2017
#70
And middle America begins blaming Obama for the resulting inflation in 3..2..1...
Squinch
Jan 2017
#76