U.S. trade protectionism has historic roots
RE: TRUMP’S TARIFFS A DEATH KNELL TO NAFTA, THOMAS WALKOM, JUNE 4
While I agree with Mr. Walkom’s conclusions I would like to add some thoughts on the subject of Canada/U.S. trade history.
Trump’s bluster and bombast serves only to satisfy his lunatic fringe support base. While the term “free trade” is laughable in the reality of trade relations with the U.S, for them the only desirable outcome is win not win-win-win as that is irrelevant to them.
Trump’s statement that “the deal as written gives too many benefits to Canada and Mexico” is patently false and ridiculous. In fact, the deal really only benefits U.S. business interests in terms of profits and greed. U.S. business interests exploit and move their business to low-wage and low-regulation countries, i.e. Mexico and other developing countries where workers rights and environmental considerations do not exist.
Sadly our own automotive business leaders have not invested any significant amount money in Canada in terms of new plants and additional employment opportunities while choosing to locate in Mexico, Europe and China.
The U.S. has always had protectionist and isolationist policies and regrettably probably always will be.
If we look at history these policies are self-destructive and indeed have had terrible and negative effects on the U.S. economy not to mention the world’s economy, for example, the Great Depression of the late 1920s and ’30s.
Pierre Trudeau recognized these facts during his government and tried to get in bed (economically) with Europe, but the aristocracy of day in Europe wanted nothing to do with this upstart from the colonies and they too were and still are ultra protectionist. If Trump was smart enough or had the average listening skills of an adult, he would recognize that fair trade is the way to prosperity in the world but, of course, in the current business times greed and fat bonuses are the rule of the elite and fairness is not even a consideration.
John C. Duquette
Port Colborne