The US decides to go full protectionist in the 70s

Nov 2014
287
ph
#1
What will be the consequence if the US decided to go full protectionist in the 70s in order to protect its steel industry and other strategic industries like autos and appliances? Like if the US decided to slap 1000 percent tariffs on imported steel from Europe and Japan, appliances, and cars from foreign manufacturers, in order to protect the big 3, Bethlehem Steel, and RCA/Zenith? Consdering the very large population of the US as a domestic market, and its very self sufficient industries, they might be pull this off, especially since they can reason that the Asian tiger economies are even more blatant in their protectionist policies, and the US is just following suit.
 
Sep 2013
818
Chattanooga, TN
#2
What will be the consequence if the US decided to go full protectionist in the 70s in order to protect its steel industry and other strategic industries like autos and appliances? Like if the US decided to slap 1000 percent tariffs on imported steel from Europe and Japan, appliances, and cars from foreign manufacturers, in order to protect the big 3, Bethlehem Steel, and RCA/Zenith? Consdering the very large population of the US as a domestic market, and its very self sufficient industries, they might be pull this off, especially since they can reason that the Asian tiger economies are even more blatant in their protectionist policies, and the US is just following suit.
If the US went full protectionist in the 70s, it would have strengthened the economy in the locations of the smelting plants of Bethlehem Steel, RCA, and Zenith, but it would have weakened the economy everywhere else in America. It seems to me like free trade would generally benefit America economically. If American consumers can buy a Chinese product that is both cheaper and higher quality than the American version of the product, wouldn't that generally benefit American consumers?
 
Mar 2013
72
Stafford, VA
#3
If the US went full protectionist in the 70s, it would have strengthened the economy in the locations of the smelting plants of Bethlehem Steel, RCA, and Zenith, but it would have weakened the economy everywhere else in America. It seems to me like free trade would generally benefit America economically. If American consumers can buy a Chinese product that is both cheaper and higher quality than the American version of the product, wouldn't that generally benefit American consumers?
But the Chinese products aren't generally higher quality, and if you don't have a job because the industry has been outsourced to another country, the lower cost is still too expensive.
 

Similar History Discussions