The resurgence of President Reagan's 1987 speech against tariffs coincides with recent global tariff implications under President Trump's policy. Reagan emphasized the temporary allure and long-term damage of tariffs, which create reliance in domestic industries, incite foreign retaliation, and ultimately result in job losses and market collapses. This message resonates especially among conservatives, illustrating a profound skepticism about Trump's protectionist measures, as many recall the historical consequences of such policies in the past, particularly during the Great Depression.
You see, at first, when someone says, Let's impose tariffs on foreign imports,' it looks like they're doing the patriotic thing by protecting American products and jobs.
What eventually occurs is: First, homegrown industries start relying on government protection in the form of high tariffs... They stop competing and stop making the innovative management and technological changes they need to succeed in world markets.
Collection
[
|
...
]