Taxation and inflation hurt our ability to compete, as do burdensome regulations. Pro-union legislation, pitting labor against management and nonunion workers, drives up costs. Tariffs and import quotas, which enable a company to continue operating in an inefficient manner, hurt overall productivity and thus harm consumers. In the case of Japan, we are foolish to accuse the Japanese government of subsidizing their industries, when we subsidize virtually all of Japan's defense, thus freeing much of their tax revenue for use in subsidies. Economic principles are always the same, whether we consider trade across national boundaries, state borders - or across the street.
People benefit from unrestricted trade.
Attempts to restrain trade always reduce overall prosperity, particularly for consumers who would otherwise find the imported goods less expensive. It would be helpful if we could remember that the Japanese people trade with the American people, to the mutual benefit of both. We are partners in trade with the Japanese, not adversaries.