Here’s the opening few lines of a report appearing on CNNMoney.com :
ALARM OVER the continuing flood of imports is spreading from a few
zealots in the auto and steel industries to nearly every corner of the
economy. Pressure is building, from both business and labor, for
Congress to do something. More than 400 trade bills have been
introduced this year, many to protect specific industries and bash
specific countries. As emotions rise, Congress is toying with ever
broader measures, dangling the tantalizing prospect in front of
Americans that tough laws — including high tariffs — can narrow the
trade gap, trim the budget deficit, and best of all, get foreigners to
pick up the tab.
Oh, the date of the above report is August 19, 1985.
Protectionists are like cockroaches: annoying, ever-present, sneaky, scavenging beasts. (And I think of Cafe Hayek as something of an insecticide.)