Regarding Donald Boudreaux’s column “Get the full ‘picture’” : How ironic that Boudreaux writes about the misdirection of suspects in TV drama shows and then goes on to present a false narrative about economics. Boudreaux stated that “the lower priced steel imports enable domestic manufacture of automobiles, farm equipment and machine tools to produce at lower costs.” That leads to higher sales
and more jobs. What happens when foreign countries produce the automobiles and farm equipment and all the other products made with steel? Any jobs that were gained from downstream producers will be lost when imports replace them.
Jobs are important because wealth is created when something is produced. Ah, but Boudreaux stated “The dollars earned by foreign steel producers eventually are spent or invested in America.” Producers are happy to share their wealth with others who provide a service. The politicians and the bankers, both of whom produce nothing, are paid to make the trade agreements and invest the profits as a service to foreign governments. The full picture of the impact of imports is apparent when you look at the loss of jobs and wealth for the middle class in America.