Word: protectionists
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Dates: during 1960-1969
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...Congress to extend the Sugar Act for four years, grant him authority to cut the quotas of any of the 15 foreign nations (including Cuba) that export sugar to the U.S. Beyond its political implications, Ike's action raised a more basic question: Should the U.S. continue a protectionist quota system that compels the consumer to support the price of sugar...
Many a free trader answers no. Says John Hight, executive director of the Committee for a National Trade Policy: "The Sugar Act is bad economics all the way around. There ought to be more competition. It's part of the whole protectionist problem. This part just happens to have been around longer." Free traders argue that the Sugar Act was spawned by an emergency that has long passed. The act is the outgrowth of a 1934 measure...