Vaughan, George W.
July 1986
FE: The Magazine for Financial Executives;Jul/Aug1986, Vol. 2 Issue 7/8, p7
Trade Publication
The article focuses on fair trade which can be the solution to the ever mounting foreign trade deficit. Fair Trade is based on equity, not unbridled opportunism and it implies balance, not one-sidedness. U.S. markets are loosely controlled with low duties, trading partners' markets are severely controlled with high duties and other administrative impediments to imports. The proposed Fair Trade Act would eliminate all existing U.S. quotas except those specifically set forth in the Act. The primary criterion for restricting imports would be that a domestic source is considered vital for the protection of national interests. The myth that the creation of non-export-related service jobs can somehow replace manufacturing and export-related service jobs must be dispelled.


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