“It’s not as if we don’t have tariffs and we have comprehensive giveaway trade. The law is, a idea is to have freer trade so you’re freer. But a fact is, there is no giveaway trade.
“‘But we wish satisfactory trade.’ So satisfactory trade, we see, is lifting taxes massively by a boss and a sovereign supervision on all we squeeze that has steel, aluminum or lumber in it. That, they say, is satisfactory trade given it will retaliate a Chinese.
“It doesn’t retaliate a Chinese. It punishes you. And where do we consider that income goes? Two places: it goes into a sovereign government, and these adored industries are means to jack adult their prices only within a extent that’s on a tariff. So, in other words, if we have a 25 percent steel tariff on, many of these companies will lift their prices 20, 22, 24 percent, so they’re only underneath it. They make out like bandits. And afterwards they hang this adult in nationalism and Americanism, when it’s utterly a opposite.
“And if that’s so good for America and American jobs, good because would we only extent it to steel and aluminum and lumber? Let’s massively boost tariffs on wheat. Let’s massively boost tariffs on corn. Let’s massively boost tariffs on each d— thing we produce, either it’s a tender element or a finished good. That approach we’ll have bomb growth, bomb salary increases. We will destroy each competitor. Well, of course, that’s nuts. You know what you’ll have? The lowest nation on a face of a earth. To a protectionists out there, a Republican Herbert Hoovers and a Republican Bernie Sanders, a doubt is: Why extent a tariffs? Why extent it to 3 industries?
“‘Well, we know, Mark, we need steel for inhabitant security.’ Really? Well, given 70 percent of a steel in this nation is constructed by American companies, it has zero to do with inhabitant security.
“In fact, any other attention in this nation that controls 70 percent of a market, it would be called a monopoly. Are we wakeful of that? It would be underneath review by a anti-trust division, a anti-trust multiplication in a Justice Department. If any other— If there was a automobile association that tranquil 70 percent of a automobile market, it would be called a monopoly. If there was an oil association that tranquil 70 percent of a oil in this country, it would be called a monopoly. The promotion that’s been used over a march of a final half-century to urge these industries has been very, really effective.