Word: protectionists
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...issue of what's good for South Africa," declared Senate Majority Leader Robert Dole. "It's a raw political issue. South Africa is secondary." As for new trade legislation, a top White House aide pointed an accusing finger at Congress. Said he: "Pure domestic political considerations have produced this protectionist rhetoric...
...President must also contend with a drive in Congress to protect U.S. industries from foreign competition. More than 200 trade bills have been introduced, and protectionist sentiment is becoming so strong that it could overshadow all other political issues this fall. While Reagan, with considerable reason and courage, has opposed protectionist measures and last week decided against helping the domestic shoe industry (see ECONOMY & BUSINESS), he is taking a heavy political risk. Part of his problem is that he has let the trade issue get away from him, instead of forcefully dealing with it earlier in the year, when...
...protectionist pot is about to boil over," Senate Majority Leader Robert Dole proclaimed two weeks ago in Japan, where he headed a Senate trade delegation. He added, "I have never seen stronger congressional sentiment for acting on the trade front." Says S. Bruce Smart, Under Secretary of Commerce: "Industries have collectively created a fire storm of concern on Capitol Hill." Calls for tough action on imports are widespread. Senate Republican Charles Grassley of Iowa declared last week that "the Administration's approach has gotten us nowhere." Republican John Danforth of Missouri called the President's decision a "very serious mistake...
...nonrubber shoes valued at more than $2.50 to 474 million pairs for the first two years of a five-year quota plan. Such a program would have stepped on plenty of toes. Footwear prices would probably have risen by as much as 15% in the first year. While protectionist measures may save some jobs, consumers almost always suffer because the limit on supplies drives up prices. The Federal Reserve Bank of New York last week released a study showing that restrictions on the imports of autos, sugar and clothing last year cost U.S. consumers more than $14 billion...
...bring about much, but what they avoided was of enormous importance." At every summit, for example, the seven leaders renew what amounts to a ritual vow to uphold free trade and shun any turn toward protectionism. Those vows are never perfectly kept; every country has in fact taken protectionist action. But barriers to trade would probably have been raised much higher had it not been for the leaders' repeated public commitments...