• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • Free Trade Fact of the Day

    In his latest column, radio talk show host Tom Morgan takes us down memory lane to explain why more, not less, free trade is needed now that the economy is struggling:

    Some politicians propose moves that could plunge us into another Great Depression. If you think I exaggerate, take some time to read about the last one. One of the biggest mistakes that pushed us into it was when we stifled free trade with other countries. In 1930 Congress passed the Smoot-Hawley Tariff Act. President Hoover signed it.The act was meant to protect us from foreign competition. Tariffs would protect American workers and industries. They would keep us from shipping American jobs abroad. They would protect us from the ravages of globalization. As soon as we erected tariffs, other countries retaliated. Our tariffs kept their products out. Theirs kept ours out. World trade shrunk like a prune overnight. The act was a disaster.

    Posted in International [slideshow_deploy]

    Comments are closed.

    Comments are subject to approval and moderation. We remind everyone that The Heritage Foundation promotes a civil society where ideas and debate flourish. Please be respectful of each other and the subjects of any criticism. While we may not always agree on policy, we should all agree that being appropriately informed is everyone's intention visiting this site. Profanity, lewdness, personal attacks, and other forms of incivility will not be tolerated. Please keep your thoughts brief and avoid ALL CAPS. While we respect your first amendment rights, we are obligated to our readers to maintain these standards. Thanks for joining the conversation.

    Big Government Is NOT the Answer

    Your tax dollars are being spent on programs that we really don't need.

    I Agree I Disagree ×

    Get Heritage In Your Inbox — FREE!

    Heritage Foundation e-mails keep you updated on the ongoing policy battles in Washington and around the country.

    ×