Laissez faire global free trade is a race to the bottom.
How can a private, for-profit enterprise be reasonably expected to compete with state-owned enterpise that does not have to be profitable, like with the Chi-coms?
Manufacturing will naturally migrate to nations without living wages, without labor laws, without environmental laws and displace American workers and industries.
Also, it centralizes risk as production will naturally migrate to least expensive producer, creating supply chain vulnerabilities and reducing price competition as consolidation progresses.
Look at what happened during Covid-19. There was significant supply chain and economic disruption because too much production capacity was centralized to one or two producers.
Hurricane Helene caused a disruption in the national supply of medical saline because most of it was made at one factory in North Carolina.
During Covid-19, there was a shortage of baby formula because there was safety issues at the one facility in America that made baby formula.
The ideal supply chain and price scenario is to have a choice of multiple producers to balance supply chain risk and cost.
Laissez faire economics eventually leads to overconsolidation, lack of competition, pricing power, oligopoly, dualopoly, monopoly, and cartels.
The most dangerous people in any society are the unemployed, underemployed, and marginalized. Callous dismissal of the effects of globalization on workers is what has contributed to rise of MAGA.
Poeple want and need jobs that will sustain them, their families, and hoepfully help the next generation prosper more than the previous.
I'd rather have Europe buy more American goods than place tariffs on their products, but it's not a perfect world in an academic vacuum.
If American companies have the barriers to entry of a living wage, labor regulations, environmental regulations, and taxes, imported goods should also have the same barriers to entry for there to be a level playing field in the American domestic economy.
Sometimes, our trading partners place barriers to entry upon American products to encourage domestic industry and consumption. Reciprocity requires that America place equal barriers to entry at equal cost to our trading partners.
The Globalist regime of kleptocratic laissez faire locusts pillaging countries, societies, and economies to achieve maximum profit are over. The new trade regime is reciprocity. Without it, societies, governments, and states will fail as the unemployed and underemployed rise up against a political-economic regime that is failing to meet their needs.
I'd rather Government not need as much taxes, but taxing smelly French cheese is preferable to higher taxes on earned income. Trade reciproicty should encourage greater private capital investment in domestic production presuming there is sufficient competition. Without domestic competition, there is less incentive for those with pricing power to take on the risk of long-term capital investment.
Mitt Romney's vulture capital America is not an America I want to live in.
When did Republicans fall in love with a tax increase? We could have gotten this from Kamala, if only she were stupid enough.
