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It's the Process, Stupid

Bhagwati, Jagdish N.

This article reports on the Omnibus Trade and Competitiveness Act, which was the broadened version of the earlier section-301 legislation that allows U.S. in effect, to designate specific countries as unfair traders, and to threaten them with higher tariffs unless they change their trading practices. Super-301 sounded splendid, the name evoked Superman, taking on Lex Luther, as the virtuous United States battled unfair traders abroad. America pointed its super-301 weapon in May 1989 at Japan, Brazil and India. Japan was the main target, many in U.S. Congress had pressed for the legislation with Japan explicitly in mind. Japan was the classic "unfair trader," a predatory exporter and an exclusionary importer.

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Economist

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Economics
Published Here
February 18, 2013
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