I've never understood this... Why not just ban dirty imports and offshore manufacturing? Prices will go up, but at least the money is kept in the economy.
I imagine it may be hard to audit, and that some people will complain about “protectionism”.
As the majority of what I think I know about international trade comes from reading journalists explaining why the UK is doing Brexit wrong, I don’t actually think I know how big these issues really are — “this molehill is close, those mountains are far away”, to paraphrase Father Ted.
> As the majority of what I think I know about international trade comes from reading journalists explaining why the UK is doing Brexit wrong, I don’t actually think I know how big these issues really are — “this molehill is close, those mountains are far away”, to paraphrase Father Ted.
I tend to assume that the epistemic landscape is biased towards those with the cash to influence it and try to weigh against that when considering an issue. With protectionism, it is a little hard because there are certainly domestic industries that benefit from protection.
China is not a person nor really a cohesive entity. Wealthy people in both China and the United States have much to gain from int'l trade unencumbered from restrictions related to worker's rights or environmental damage.
Indeed, this is a common position on the Left. Unfortunately, free trade orthodoxy is pretty strong still so even pricing in of externalities is politically verboten.