FOREIGN TRADE: Radical Proposal

The automakers, and many other Detroit industries, are protected from foreign competition by tariffs on imported goods. But last week, Detroit's Board of Commerce, whose 6,000 members include many top automakers, made the radical proposal that all U.S. tariffs be abolished, and that there be free trade everywhere. Said the board: the U.S. has reached a stage where the best interests of labor, consumers and industry are not served by high protective tariffs.

The radical proposal was the result of ten years' study of foreign trade, much of it done under the direction of...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!