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>If local cheap labor cannot compete with used overseas clothing, then they shouldn't. People overseas always forget basic facts: if the unemployment rate of a
by catlikesshrimp 2y ago
>If local cheap labor cannot compete with used overseas clothing, then they shouldn't.
People overseas always forget basic facts: if the unemployment rate of a country is 80%, How possible do you think it is to put the workers to do "something else"
>that's why it makes sense to put compensatory tariffs on subsidized products.
That's the whole point of a "free" trade agreement. It is usually a rich country which wants to get rid of import tariffs. And it (rich country) usually leverages its heavy influence on something else to force the agreement.
Keep in mind I am not bashing at world order because - reasons. Just pointing out helping the wrong way does more harm than good.
- pas 2y agoFTAs are ... complicated. But in case of the US .. the US has the protectionist tariffs on textiles and clothes, among other things. https://www.wto.org/english/res_e/statis_e/daily_update_e/tariff_profiles/US_e.pdf https://www.wto.org/english/res_e/statis_e/daily_update_e/ta... Regarding unemployment. Calling out the US for protectionism -- especially after Trump's 2018 "trade war" that completely backfired -- is much easier than discussing developmental economic policies for Kenya, mostly because things were really fucking bad between 1946 and 1993. Import substitution was tried as a policy, and it failed. Current unemployment is 2.98%.