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Re: Reduce the trade deficit; increase GDP and median wage.What is preventing domestic producers from meeting domestic demand with more expensive labor?If not trade policy, what do you think is the "largest factor" for GDP and Median wages?I agree, we have far too many restrictions on trade. It would be in our nation's best interest to eliminate all trade barriers along with all government interference, no more tariffs, taxes, subsidies, or other protectionist nonsense.Your proposal would induce all entities, including foreign governments, to enact IC systems of their own, which would nullify any advantage you think would result from adopting the IC proposal. Before you spout some claptrap about that being merely an opinion, one needs only look at what happens when we impose tariffs on foreign goods to know it's the most probable outcome. We impose tariffs on imports and the importing countries respond in kind by imposing tariffs on the goods we import into their countries. Any "benefit" of the tariff is thereby nullified and consumers in both countries now face unnecessarily higher prices for imported goods.
Re: Reduce the trade deficit; increase GDP and median wage.
What is preventing domestic producers from meeting domestic demand with more expensive labor?
If not trade policy, what do you think is the "largest factor" for GDP and Median wages?
I agree, we have far too many restrictions on trade. It would be in our nation's best interest to eliminate all trade barriers along with all government interference, no more tariffs, taxes, subsidies, or other protectionist nonsense.
Your proposal would induce all entities, including foreign governments, to enact IC systems of their own, which would nullify any advantage you think would result from adopting the IC proposal. Before you spout some claptrap about that being merely an opinion, one needs only look at what happens when we impose tariffs on foreign goods to know it's the most probable outcome. We impose tariffs on imports and the importing countries respond in kind by imposing tariffs on the goods we import into their countries. Any "benefit" of the tariff is thereby nullified and consumers in both countries now face unnecessarily higher prices for imported goods.
