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If you worship at the "free trade" alter, you must pledge to never
actually enforce multi-lateral trade obligations. If you even
think about actually requiring others to lower barriers, you risk
banishment for heresy.
Instead, you must endorse new trade
agreements like Peru. Agreements that lower U.S. tariffs but
allow others to continue VAT tariffs of 17% or more. Agreements
that allow foreign governments to manipulate currency with no response
from us. Agreements that allow foreign government owned companies
to buy U.S. private companies. Agreements that allow other countries to
block our goods, while we let theirs in.
But in the rest of the world, other things make sense. For example:
1. Let's unilaterally adjust our tariffs or duties to neutralize foreign VAT tariffs;
2. And adujst our duties to neutralize foreign currency manipulation;
3.
And create some companies owned by Uncle Sam's Department of Defense
and buy some Chinese defense contractors in China, or maybe have Fannie
Mae buy some banks in Shanghai;
4. And block Chinese meat exports to us when they block ours.
Multilateralism is fine. Let's do it some day.
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