I’m really full of questions today. For example, this article at Bloomberg, basically an editorial against imposing duties on steel imported from China masquerading as a news article, fails to take something fundamental into account: nearly all of China’s steel is produced by state-owned companies.
Should we be importing steel from anybody’s state-owned companies? Should we be importing steel from Chinese state-owned companies? Which is freer? Imposing tariffs on subsidized imported steel or not imposing them? Can trade in state-owned and subsidized products be meaningfully described as “free trade”, particularly when the state is a monetary sovereign?
We desperately need a protectionist trade policy an zero immigration.
Other questions, should we import products made were workers can not form independent unions and bargain over wages, health and safety issues, and should we import products made under lax to none existent environmental regulation?
Heh. Steel imports began in earnest in the 60s and exposed a schlerotic monopoly. That was a good thing. It got out of hand.
Things have settled down. As physical production entities US mills can compete with anyone. Some US minis making crap like rebar can do it for 1 man hour per ton. But you can’t beat state subsidy. It’s not free trade. It’s subsidy to steel product fabricators. Beggar thy neighbor isn’t moral.