Your Nation/World section Thursday (Page 6B) included an item regarding Angela Merkel, German chancellor, being concerned about a “new global financial crisis” possibly ensuing from the possible U.S. tariffs on European cars. In her address to Germany’s lower house of parliament, Merkel expressed her concern for the survival of post-WWII global institutions.
One post-WWII institution that Merkel should be on her knees thanking the U.S. for is the Marshall Plan, which was instrumental in allowing Germany to reclaim its place as the dominant economic power in Europe. Not to mention the leading role by the U.S. in preventing the pastoralization of Germany.
Since World War II, the United States has continually given away the store in order to strengthen the economies of countries all over the world, in the realized hope of preventing World War III. We saw, in the last two decades, how the U.S. economy has been weakened by these efforts, in combination with other factors, such as the efforts by Wal-Mart and other retailers to force domestic manufacturers to compete in price with third-world producers, such as China with its virtual slave labor.
The goal should be a zero United States balance-of-payments deficit. Tariffs are one weapon to achieve this. Germany and other countries have benefited greatly from past U.S. policies. They should suck it up and accept this one.
TERRY L. KOGLIN