America’s Dangerous Neo-Protectionism
Donald Trump has promised to save US jobs by slapping import tariffs on foreign goods, influencing exchange rates, restricting inflows of foreign workers, and creating disincentives for outsourcing. But, while the US working class is undoubtedly facing major challenges today, protectionism is not the way to help them.
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NEW YORK – US President Donald Trump is about to make a policy mistake. It will hurt – particularly in the short run – countries across Sub-Saharan Africa, Latin America, and Asia, especially emerging economies like China and Sri Lanka (which run large trade surpluses vis-à-vis the United States) and India and the Philippines (major outsourcing destinations). But none will suffer more than the US itself.