March 16, 2022
Economic upheaval currently dominates the concerns of most Americans, who more and more are now staring at empty shelves and having cold sweats over the thought of filling up their gas tanks. Inflation is at a 40-year high and climbing with no end in sight as the White House responds by setting a new high in the ‘Index of Economic Blame.’
If one silver lining has arisen from this disaster it is the growing consensus for securing America’s supply chain through domestic workers, resources, and production. An effort is already underway in Congress to help the U.S. regain its formerly undisputed leadership in semiconductors, recognizing that dependence on foreign manufacturers threatens America’s economic and national security. Lawmakers are also calling for greater domestic energy production, as the price of oil has shot up over 70 percent in
These are important steps, and underscore the lesson that price stability and a secure supply chain are the critical components of long-term economic strength. This is a call to avoid over-reliance on foreign producers when there are vibrant, competitive, and available industries here at home
Astoundingly there are still some calling for America to surrender a key component of our food supply to foreign suppliers. The debate over U.S. sugar policy is not a new one, but has become a flashpoint in trade policy for those who would forsake American industry and thousands of its workers for a temporary price advantage, in essence trading a short-term gain for long-term pain.
Currently some U.S. food manufacturers argue they are paying too much for sugar due to U.S. policy that limits the amount of imported foreign sugar. Were it true that foreign competitors could fairly deliver raw and refined sugar at a lower price on the open market better than the thousands of U.S. growers then there would be no issue to debate. But the food makers’ myths surrounding America’s sugar policy are dangerously simplistic and self-serving, and have absolutely no resemblance to fair and open trade.
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