Business: The Case for Free Trade

In the last half of the 19 century, U.S. businessmen wanted and got high tariffs. There were good reasons for this. Many fledgling U.S. industries still needed protection from Europe's factories, which could undersell them, and the U.S. itself was still a debtor nation (i.e., U.S. debt abroad exceeded foreign debt in the U.S.).

IN 1953, more & more businessmen want lower tariffs, even though the Administration and Congress seem in no mood to get to the job of cutting them. Again, there are good reasons.

The U.S. is now a creditor nation, and most of its industries no longer need protection. Furthermore,...

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