Semiconductor legislation failures show why the U.S. struggles to compete

1 answer:

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The baby industry justification, which is an economic justification for trade protectionism, was used by ball bearing manufacturers in the United States of America to make their case to the federal government. They requested that specific trade limitations be placed on the importing of ball bearings by the US government.

The domestic producers' lobbyist was correct to assert that the country's ball-bearing industry was still in its infancy and would not be able to compete with foreign firms.

They believed that once the restriction is put in place, the local ball-bearing sector will develop and have the ability to compete on the international market.

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