U.S. industries buffeted by foreign competition, like wounded soldiers in a field hospital, can be roughly classified on the basis of triage: those that must be attended to promptly if they are to survive and those that will live or die regardless. The treatment most often called for by the victims of trading wars is protectionism. But as these examples make clear, unfair foreign practices are not always the real cause of distress, and trade barriers, while providing short-term relief, may in the long run be counterproductive.
Stung by cheap labor
abroad, the U.S.
shoe industry seems
beyond saving
"The shoe...
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