Political Quotes

“Mr. Speaker, I respectfully rise today to voice my opposition to this steel quota bill. The choice facing us is clear. Either we want protectionism or we want free markets. Protectionism not only stunts this country's growth but also hurts the very industries it tries to protect. Steel is no exception to that rule. America's steel industry leads the world in productivity and quality today because of competition, not protection. Since 1982, the amount of man-hours it takes to produce a ton of steel in America has dropped from over 10 hours to less than 4 hours. America's steel companies still supply nearly three-quarters of the steel consumed in America. Even if they produce steel at full capacity, we would still have to import steel in order to meet America's needs. Will America really be better off by meddling with this market? The United States is the world's largest exporter. We are inescapably linked to markets all around this globe, and most American industries depend on some imported materials. It is doubtful that the capacity of some American industries could be sustained by American suppliers alone. Setting tariffs on steel only comes at the cost of other sectors of the U.S. economy.”