Jeff Flake: “Some individuals ask the question: Should governments be involved in the subsidy of exports? And the theoretical answer…”

“Some individuals ask the question: Should governments be involved in the subsidy of exports? And the theoretical answer to that is well, no, they should not be. So if we lived in this theoretical world that we would like to, governments would not subsidize. But the fact of the matter is, we do not live in a theoretical world, we live in a very real world, a very real global economy, in which other governments assist companies in their countries to export. How much do they do this? Well, in the United Kingdom, 2.7 percent of national exports are subsidized. In Italy, 3.1 percent. In Germany, 5.2 percent. In Canada, 7.9 percent. In Spain, 8.3 percent. In France, 19.6 percent. In Japan, 47.9 percent.”