Sanford tariffs are an ‘experiment with stupidity’ the weekly standard west la college student login

THE WEEKLY STANDARD had the chance to talk to south carolina republican mark sanford about president donald trump’s proposed steel and aluminum tariffs, which would tax imports at 25 percent and 10 percent, respectively. Sanford, who has represented the state’s 1st district since 2013, ardently opposes the tariffs and he had a lot to say. Below is a transcript of what he had to say after a house freedom caucus meeting on monday night. It has been edited for length and clarity.

MARK SANFORD: I think it’s disastrous. I represent a port city and a lot of stuff goes in. A lot of stuff goes back out. Boeing uses aluminum. BMW in the upstate uses steel and aluminum. Volvo will soon use both.

So at a local level, it’s disastrous. And at a national level, I think this represents a chance to undo whatever good might have been done by the tax cuts and regulatory rollbacks with regards to the corporate and business environment.Stuff goes A tariff is a tax. Fundamentally, what we’re talking about here is raising taxes on americans.

I think that there frankly ought to be more of an outcry. And it represents movement in the opposite direction. There’s no such thing as perfect trade, but we’ve had a system in place from the time of world war II to date that has tremendously benefited the american way of life and our standard of living. What we have for the first time—given the washing machine, the solar tariffs, given TPP, given maybe NAFTA [withdrawal]—is a clear move in a protectionist direction that is at odds with about a 70 year tradition in this country. It’s at odds with what we’ve seen in the past.

Our country seems to experiment with stupidity every 100 years as it relates to trade. In 1828, there were the so-called tariffs of abomination particularly affecting the south.Steel aluminum it was intended to protects jobs and businesses. It didn’t do either. It was disastrous. We did it again 100 years later in the smoot hawley tariffs in 1930. It was disastrous. World trade declined by two thirds in the wake of the smoot hawley tariffs, and now we have allies saying, ‘look if you do this to us, we will do it to you.’ they have advertised really clearly what their response will be and yet we’re talking about proceeding?

Mind you, this is under section 232 that is supposedly for national defense. Now help me understand the national defense danger of trading with one of our closest allies and our nearest neighbor to the north, canada. Because canada is really who we’re talking about here. They are the largest seller of steel to the U.S. They’re the largest seller of aluminum.Steel aluminum they provide 40 percent of our imports on aluminum. Flip it in reverse: let’s say you put this through and you have more steel capacity, allegedly. You have about 150,000 jobs here in the steel industry. You’ve got about 6 million jobs that will be impacted. Let’s say you have more steel capacity. Well, where are we going to sell it? Let’s guess who buys 50 percent of our steel exports? Canada. So, help me with the reasoning! We’re going to increase our steel capacity only so we can sell more. Oh, by the way, you know our biggest buyer? They’re not buying any more.

So at many different levels—from the standpoint of common sense, from the standpoint of history, from the standpoint of a 70 year tradition—it makes absolutely no sense. And it’s for that reason that gary cohn spoke out as vociferously as he did there on the president’s team.It’s disastrous it’s for that reason the stock market declined by 600 points on thursday and friday. We’re playing with absolute fire here, and it would [really have an impact] on my district, certainly, but also across the country at large. Absolutely.

BYRD: [house freedom caucus chairman mark] meadows said that there wasn’t that much support among congressional republicans to rollback those authorities. Do you disagree with that?

SANFORD: the nature of the party in power is that everybody wants to be deferential to the executive branch, but that’s not what the founding fathers intended. They said, ‘you’re going to have a point of view, executive branch, and legislative branch, you should have a point of view, too.’

SANFORD: I mean, [house ways and means committee chairman] kevin brady is doing a letter.It’s disastrous I don’t know if you’re aware of that. I’m going to sign onto that letter. It’s relatively deferential. ‘if you’re going to do it, here are some ways in which you might consider doing it,’ — one of those kinds of letters. But I applaud the fact that he’s got that letter. Again, we’re playing with fire. This could be the black swan event that kicks off a rejiggering and a look at valuations in the stock market. It, at many different levels, I think would have a profound effect.

The weekly standard http://assets.Weeklystandard.Com.S3.Amazonaws.Com/tws15/images/logo-large.Png the weekly standard 2018 washington, DC politics 2018-03-06 http://www.Weeklystandard.Com/sanford-tariffs-are-an-experiment-with-stupidity/article/2011842 2018-03-06T14:55 2018-03-06T14:31 sanford: tariffs are an ‘experiment with stupidity’ THE WEEKLY STANDARD had the chance to talk to south carolina republican mark sanford about president donald trump’s proposed steel and aluminum tariffs, which would tax imports at 25 percent and 10 percent, respectively.It’s disastrous sanford, who has represented the state’s 1st district since 2013, ardently opposes the tariffs and he had a lot to say. Below is a transcript of what he had to say after a house freedom caucus meeting on monday night. It has been edited for length and clarity.

MARK SANFORD: I think it’s disastrous. I represent a port city and a lot of stuff goes in. A lot of stuff goes back out. Boeing uses aluminum. BMW in the upstate uses steel and aluminum. Volvo will soon use both. So at a local level, it’s disastrous. And at a national level, I think this represents a chance to undo whatever good might have been done by the tax cuts and regulatory rollbacks with regards to the corporate and business environment. A tariff is a tax. Fundamentally, what we’re talking about here is raising taxes on americans.It’s disastrous

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