The Importance of Free Trade in the American Steel Industry

Patrick Boyle: If the Japanese flood us with steel, it will reduce employment in the American steel industry. But whoever gets them in turn is going to spend them and that directly provides employment in the United States. He says if we restrict imports from Japan, then people are going to lose their jobs but they'll be widely spread over the country. And overall, the American consumer would be benefited because he will get the steel more cheaply than he otherwise would.