government (which it's not entitled to and which creates ill-will and does nothing to foster long-range, mutually-beneficial trading relationships), deposit the collected tariff monies into an interest-bearing trading account in a U.S. bank in the exporting nation's name (or company or any other entity). Then give the foreign trading entity 12 months to redeem the trade credit and accrued interest by purchasing any U.S. raw material, manufactured good, or service. If the trading entity doesn't redeem the accumulated trade credit within 12 months, only then does the deposited import duties go to Uncle Sam.It's logical to believe that the foreign trading entity will not leave all the tariff money and accrued interest to go into the U.S. Treasury by default. It will purchase a like amount of goods and services to wipe out the trade credit account.Analyze what happened: No one got taken advantage of. America got the imported goods. The foreign entity received a like amount of American goods or services. The trade books are balanced. All monies earned interest every step of the way. The U.S. didn't allow inexpensive foreign goods to displace American goods on price alone. It made the foreign goods compete on a quality basis with American goods. American consumers will make the choice of which is better at a comparable price. If the foreign goods are really superior to the American goods, then the foreign manufacturer will have earned an increased share of the world market and the U.S. manufacturer or ag producer will have to get more competitive or go out of business. The reverse is also true -- so the free market and the law of supply and demand still gets a chance to work, but it works on the basis of quality and value, not upon inherent differences in world standards of living.Is it logical for the U.S. to unilaterally adopt Equity of Trade? It is logical if Americans want to continue the nation's constitutional directive to "protect" the...
