, Columnist
Trump's Disastrous Pledge to Keep Jobs in the U.S.
Put into practice, it would raise the trade deficit, politicize the economy, and bring on a crony capitalist nightmare.
Great in theory. But in practice?
Photographer: Meg Roussos/BloombergThis article is for subscribers only.
One of Donald Trump’s most consistent campaign promises has been to prevent U.S. businesses from moving good jobs to Mexico -- whether through taxes, jawboning, or more drastic means, such as an outright prohibition. Economists might regard this as a misguided form of protectionism, but in fact, it’s worse than that: If instituted, it could prove a major step toward imposing capital controls on the American economy and politicizing many business decisions.
Let’s consider how such a policy would be enforced in practice.