The New York Times reports that President Obama, in his State of the Union speech, will call, among other things, for encouraging exports.
Now, since exports must equal imports in the long run, encouraging exports is exactly the same thing as encouraging imports. And wouldn’t you expect that if you were out to encourage imports, your first step might be to stop discouraging imports, say by declaring an end to all tariffs and quotas on foreign-made goods?
In a sane world, that’s indeed what you might expect. But somehow I don’t expect it.