Word: protectionist
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...processors--Tyson Foods, Swift & Co., Cargill and National Beef Packing Co.--that control 81% of the nation's cattle market. They argue that foreign governments could retaliate for any labeling law by blocking American produce. "We do not need to jeopardize our access to foreign markets by adopting such protectionist policies," Tyson lobbyist Sara Lilygren recently e-mailed Senate staff members...
...economy continues to recover, making domestic investments more attractive than buying American debt. If China and Japan lose their hunger for American assets, the dollar will slide. The question is: how far and how fast? A gradual drop would boost U.S. exports, cut its trade deficit, and help silence protectionist American politicians who demand that trade barriers be raised against Asian countries. But a free fall in the dollar would trigger panic throughout the world's financial system?and remind America's protectionists of the startling new truth of international economics: that the billions of dollars that Asian bankers have...
Analysts doubt that any protectionist strategy will slow what appears to be a permanent shift in the way the U.S. does business. As Mankiw tried to explain before he was shouted down by fellow Republicans, structural change like this is inevitable and recurring. It's just that the transition can be ugly. New England was a textile center until that business went south, to the Carolinas, then east, to China. Software supplanted steel in Pittsburgh, Pa. In both places, high-tech companies later occupied some of the old mill buildings. Now some of those companies' programmers have gone...
...maker of Dr. Martens boots - laid off more than 1,000 workers, shut its British plants and outsourced production to China. The trade spat risks escalating into a nasty war, especially if politicians try to make it a major campaign issue this year. Some U.S. manufacturers are demanding protectionist legislation from an Administration that seems to be listening - at least with one ear. Although he bills himself as a free trader, President Bush is finding it hard to ignore the millions of manufacturing jobs that have disappeared from states that will be pivotal in this year's election...
...four years after Al Gore unsuccessfully ran on that slogan, populism is at the heart of not just Dean's campaign but almost every Democratic presidential candidacy. Senator John Edwards puts the case most elegantly: "This is an Administration that rewards wealth, not work." Dick Gephardt is the protectionist tribune of the antique industrial unions. Aristocratic John Kerry rails effectively against "Benedict Arnold" corporations that set up headquarters overseas to avoid paying taxes at home. Even mild, moderate Joe Lieberman has a tax plan to soak the rich and further reduce taxes on the middle class. There may be some...