Word: protectionists
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...policy of appeasing protectionists at home may well succeed in deflecting even higher and wider restrictions on foreign goods, which the Administration claims is its intention. But there is an equal chance that the President is casting himself as the sorcerer's apprentice. Protectionism has been a powerful force throughout U.S. history. Today, when the world's economies have grown inextricably interdependent, the protectionist danger is especially great. Nixon, who proclaims himself a free trader, faces a new protectionist alliance that is more broadly based than those of the past. The alliance is armed with arguments of unprecedented...
...surcharge to 15%. Indiana Senator Vance Hartke and Massachusetts Representative James Burke have introduced a bill that aims at holding down to 1965-69 levels any imports that start to win a sizable share of the domestic market. That measure appears likely to die, along with nearly 100 other protectionist bills introduced in this congressional session, but the increasing number of such attempts testifies to a growing congressional opinion that there are many votes in protectionism-and few in free trade...
That feeling has been mightily spurred by a change in the traditional political line-up on trade questions. Through much of U.S. history, Eastern manufacturers were the leading protectionists, while free trade was advocated by the South, the farm bloc and labor, all of which correctly saw increased trade as a stimulant to prosperity. Now that alignment has been fragmented. Farmers, who devote a quarter of their acreage to growing crops for export, are still reliably for free trade. But the South, to safeguard its textile mills, has turned protectionist. Big business, which has built up extensive operations overseas...
Traditionally supporters of freer trade, many of labor's most liberal leaders have made a startling turnabout and put their powerful clout behind openly protectionist legislation in Congress. The recent converts include the electrical workers, the rubber workers and the machinists. Their feelings were vented at length and with loudness at last week's AFL-CIO convention. The Amalgamated Clothing Workers passed out pamphlets showing a man wearing imported clothes and headlined: HOW TO DRESS FOR A DEPRESSION. Banners strung up at Bal Harbour's Hotel Americana urged union members...
...have had trouble buying enough double knit machinery; practically all of it is made in Europe, especially West Germany, and orders have to be placed many months in advance. This problem has been aggravated by President Nixon's import surtax. Ironically, the most promising sector of the staunchly protectionist textile industry is now being forced to pay at least 10% more for its new equipment because of the Administration's protectionist measures...