Originally Posted by DRS112

We can impose import taxes on non WTO members...but otherwise it would be enough to warrant serious sanctions....the only reason the sanctions haven't been serious is because we've rescinded the protectionist practices.

But I disagree with the notion that we should impose tariffs on other nations anyways...all it does is lead to higher cost goods...and a drop in real wages...not to mention retaliatory tarriffs imposed on our goods...hurting our exporting industries worse than they already are. And it breeds inefficiencies...which is why we're in trouble to begin with. Your argument was very popular at one time...especially in S.America. It's known as Import Substitution Industrialization, which is the brainchild of the Prebisch-Singer thesis and the infant industry argument.....but it's never worked out well....In fact the opposite is true...industries will be healthier when forced to compete globally...see Japan...