Pat Buchanan correctly explains the folly of free trade and explains clearly why Donald Trump is on the right track.
In denouncing NAFTA, the WTO, MFN for China and the Trans-Pacific Partnership, all backed by Bush I and II, Mitt Romney and Paul Ryan, Trump is all but calling his own party leaders dunderheads and losers.
And he seems to be winning the argument.
As he calls for the repudiation of “globalism” and a return to “Americanism,” a Republican Congress renders itself mute on whether it will even vote on the TPP this year.
Since Bush I, we have run $12 trillion in trade deficits, $4 trillion with China. Once a Maoist dump, China has become the greatest manufacturing power on earth. Meanwhile, the U.S. has lost 50,000 factories and a third of its manufacturing jobs.
In recent decades, every major U.S. trade partner — China, Japan, Canada, Mexico, EU — has run annual trade surpluses at our expense. How do 40 years of trade deficits in goods, run by a nation that rarely ran one for a century before, make us stronger or wealthier?
Or is what is best for the world now more important than what is best for America?
Washington, Hamilton, and Henry Clay, father of the “American System,” and Lincoln and every Republican president up to Eisenhower, crafted trade policies to promote manufacturing to grow the wealth of the USA.
They were patriots not globalists.
They knew that America’s political independence required economic independence of all other nations. They wanted to build an economy where Americans would cut their bonds to foreign lands and come to rely upon one another for the needs and necessities of their national life. They sought to make us independent, so that we could not be dragged by economic ties into the inevitable wars of the Old World.
And they succeeded magnificently.
Transnational companies, their K Street lobbyists, and media that survive on their advertising dollars, are the biggest boosters of free trade, as they are the biggest beneficiaries.
When a factory shuts down and a town begins to die, workers are laid off. The local tax base shrinks, education and social services are cut. Folks go on unemployment and food stamps. We all pay for that.
“Creative destruction” is the antiseptic term free traders use to describe what they have done and are doing to the America we grew up in.