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I believe it was the CEO of Coca-Cola that ranted about this as he was forced to invest 4 Billion-if I recall correctly- in outside U.S. development because he wasn't allowed to return those profits to the U.S. without taxation.
That rant reached the net, was ignored by the MSM and was never heard from again.
originally posted by: nwtrucker
I was struck by the articles regarding Carriers' announced manufacturing move out of the U.S.. They apparently had recently received a grant(?) of 5 million from the Federal gov't(?) and then stated they were leaving the U.S. with resulting job losses.
A possible solution came to mind that would place a tariff on imports in that specific industry-air conditioning and tractor-trailer refer units- to protect local manufacturing. This would offer them either a compensation for departing OR a penalty if they did leave the U.S..
No, nothing new in the idea, yet, the very subject seems to have disappeared having been trumped by the near religious tenet of 'free trade'. so called 'free trade' has been a boon for pervious third world nations and I have no problem with that. What we have now goes far beyond that. Not getting into the conspiracy side of this, the bottom line is the U.S. is in dire straits economically. It is time to return some balance and competition into the equation.
I see no realistic way to achieve that other than Tariffs and subsidies. If that requires the negotiation based on threats to withdraw from the WTO and selected free trade agreements then that's the place to start. If 'no joy' in those negotiations then withdraw from those agreements. As a large net importer, we would be on the winning side of a so-called trade war. Our tariffs would more than cover our subsidies and in the long run, we would see a stop in the over-all job loss and a return of a significant number of those jobs to the U.S..
Perhaps avoiding specific nations and directing the tariffs and subsidies to individual industries would mitigate the negatives connected to these acts.
If the trend continues, we are going to end up in a third world status and economy. That is obvious. I see no other solution.
One gets a pretty good feel for the people when you've repeatedly travel 49 States 7 provinces and a territory.
I will take a hand-shake, eye to eye communication over digging through somebody's garbage to assess any day of the week...sheesh....LOL
originally posted by: nwtrucker
a reply to: Azureblue
OK, if true, what do you propose as a 'solution' to repair/restore, to some degree, the U.S. economy and jobs?
Tariffs and subsidies may not have anything to do with industries leaving and I don't believe I suggested that they did. I do see the potential so slow, perhaps even stop further drain and an incentive to return some of those industries.
Especially if a U.S. owned, foreign based Corporation has to pay a tariff to bring their products back to the U.S..