Word: protectionists
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That still leaves much to talk about. Protectionist sentiment is on the rise in the U.S. and Europe, though Carter's refusal in March to impose higher tariffs on shoe imports is seen as an effective countering force, at least in spirit. Indeed the Europeans and the Japanese are by and large encouraged by what they have seen of Carter so far. Says one top European policymaker: "I detect a world approach that is very impressive." The President hopes to revive the bogged-down Tokyo Round of tariff-cutting trade negotiations begun two years ago in Geneva. Says...
Before lunch, the President has a meeting with union representatives in the Cabinet Room. Vice President Mondale is there when Carter arrives and later remains to smooth feathers after the President has left. The union men urge a more protectionist policy on Carter, particularly for the TV, textile and footwear industries, which have severe competition from foreign imports...
...chill sets in, they hunker down and try to protect themselves from their neighbors' goods. That is what happened as a result of the severe 1973-75 recession; trading barriers were partially rebuilt, and they are beginning to have a permanent look. The world could become much more protectionist, especially if the U.S. goes along with the trend...
...tariff or fixed quotas on imported footwear, he relieved many U.S. friends abroad. "A victory for us and the American consumer," exulted Niveo Friedrich, head of a Brazilian shoe manufacturers' association. Though the President's decision is likely to stick, he can be overridden by Congress, where protectionist pressures are traditionally strong. Free trade has won a round, but the outcome of the larger fight remains in doubt...
...traders will not be overjoyed either, but they have less reason for dismay. Had Carter done no more than reject the ITC recommendation, Congress would probably have overridden his decision and forced enactment of the tariff boost; it might do so anyway. The decision indicates that even under heavy protectionist fire, the President will choose, if not all-out free trade, then as much free trade as he can get away with...