In times of recession, nations inevitably turn toward protectionism as a means of shielding jobs from the threat of foreign goods. Even though the West and Japan are now recovering from the deepest economic slump since the 1930s, protectionist tendencies remain powerful. In an effort to defuse those tendencies in the U.S.—where they are strong in Congress and among the trade unions—President Carter, a committed free trader, is trying to solve trade problems one at a time. The unpleasant alternative would have been to resort to high tariff barriers that might set off a global trade war and raise...
To continue reading:
or
Log-In
