Origins of a Trade War
Since the 1980s, Donald Trump has been railing against what he calls unfair trade with a focus on Japan and then China. Also during the '80s, President Reagan, remembered as a free trader, was an interventionist when it came to the closed Japanese market. A decade later, Bill Clinton threatened punitive tariffs on Japanese luxury cars. Moreover, the question of what to do about the decline in U.S. manufacturing and living standards has weighed on policymakers and the working class for 40 years. In this episode, historian Nelson Lichtenstein traces the origins of today's backlash to free trade as President Trump tries, with the blunt force instrument of tariffs, to undo global economic arrangements decades in the making.
Recommended reading:
A Fabulous Failure: The Clinton Presidency and the Transformation of American Capitalism by Nelson Lichtenstein