So, here's the Bush administration trade policy. They put tariffs on
textiles, hurting overseas manufacturers (incidentally, reneging on a
promise to eliminate trade barriers to Pakistani textiles). They
raise agricultural subsidies, with devastating effects on farmers in
Africa. And so forth. Which might give you the impression that
they're willing to sacrifice the livelihoods of people overseas for
the sake of political advantage at home.
Well, not quite. There's also
damage at home:
- The cost of hot-rolled steel, an industry benchmark, is up
from $210 per ton late last year to $300. Makers of car parts and
other steel users, which account for many more jobs than steel
producers do, report that suppliers are reneging on promises to
deliver steel and holding out for extra money. The result is likely to
be job losses in manufacturing and higher prices for American
consumers.
No comments:
Post a Comment