Why We Need Wage and Environmental Parity Tariffs

market-ticker.org / by Karl Denninger / 2017-06-18

One of the central necessary actions I put forward in Leverage is that the United States must implement wage and environmental parity tariffs to prevent companies from arbitraging not only slave-labor conditions in third world nations but also to prevent them from exporting intentional destruction of the environment as a means of evading perfectly-legitimate laws intended to prevent despoiling the land, water and air in the United States.

This perspective is often countered with the claim that I’m xenophobic or some other bit of twaddle.  But you need only look at the facts to discern that this is exactly what we need, and the reason we need it is that American companies have made a business out of poisoning people on purpose — that is, well beyond the point at which a particular hazard was identified and they have moved production offshore and to third-party and third-world producers in order to keep doing so even after being slammed in the United States.

In epidemiology, follow-up studies usually get bigger and tougher, and for that reason they often contradict one another. But by December 1992, something rare had happened. All three studies—all paid for by the industry—showed similar results: roughly a doubling of the rate of miscarriages for thousands of potentially exposed women. This time the industry reacted quickly. SIA pointed to a family of toxic chemicals widely used in chipmaking as the likely cause and declared that its companies would accelerate efforts to phase them out. IBM went further: It pledged to rid its global chip production of them by 1995.

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