To the Editor:

Re "Present at the Trade Wars," by David Rockefeller (Op-Ed, Sept. 21):

This criticism of President Obama's decision to impose tariffs on imports of Chinese tires is an example of refighting an old, mostly irrelevant war.

Mr. Rockefeller's repetition of the mythology of the consequences of the 1930 Smoot-Hawley Tariff Act does not make it true. Few economists believe that it was a major cause of the Great Depression, much less of World War II.

More important, today's circumstances are far removed from those of the 1930s. The large, chronic trade imbalances that were a prime cause of our recent economic crisis did not exist then.

The main problem now is that these imbalances are significantly driven by the strategic export-led growth policies of China and several other countries that aim to accumulate large, continuous trade surpluses. In effect, they are applying their own brand of Smoot-Hawley.

Far from being protectionist, President Obama's tire tariffs are a signal to the surplus countries that their policies must change in order to save free trade.

Clyde Prestowitz
Potomac, Md., Sept. 22, 2009

The writer is president of the Economic Strategy Institute and served in the Reagan and Clinton administrations.

Coalition for a Prosperous America

www.prosperousamerica.org

News Release

September 28, 2009

Contact: Michael Stumo, 413.854.2580, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it

CPA comments on the South Korea and Colombia Free Trade Agreements

Washington, DC:  The Coalition for a Prosperous America (CPA) responded to an official request from The U.S. Trade Representative for public comment on the South Korea and Colombia Free Trade Agreements. CPA reached out to their membership and constituency through an online action and received over 200 responses in opposition to these agreements.

The following article was written by Pat Buchanan, author of the new book "Churchill, Hitler and 'The Unnecessary War."
 

Down at the Chinese outlet store in Albany known as Wal-Mart, Chinese tires have so successfully undercut U.S.-made tires that the Cooper Tire factory in that south Georgia town had to shut down.

Twenty-one hundred Georgians lost their jobs.

The tale of Cooper Tire and what it portends is told in last week's Washington Post by Peter Whoriskey.

How could tires made on the other side of the world, then shipped to Albany, be sold for less than tires made in Albany?

Here's how.

SPEAKER:  Dr. Joel Yudken, High Road Strategies, LLC

DATE/TIME:   Thursday, October 1, 2009, 10:30 a.m. - Noon

PLACE:  Wiley Rein, LLP, 1776 K Street NW, Washington DC

The full details of the Issues Forum including an overview of the presentation are below the fold.