In addition to what Top said, and I doubt we (USA) will ever be able to get back to this point again, I feel there should be EQUAL trade, not just free trade. I.E. Japan automakers sell x number of cars in the US equivalent to the x number of cars US automakers sell in Japan. The same for cameras, TV's, computers, yada yada yada. China as well, Korea likewise. Like I said, it is most likely a pipe dream, but I feel that would help to re stabilize US industry, and maybe go a ways toward reducing our trade deficit.
Good point.
It's doesn't even have to be exactly equal trade... but it would sure be nice if something approaching a much more level playing field would be implemented. They need some new kind of mathematical formula.
Where they get us is often smaller countries and smaller markets say they couldn't possibly buy as many... say cars... as great big America can.
Well maybe we should start grouping countries together and say... we'll allow in to be sold X amount from all of Europe and X amount from Japan & Korea & China all together but they have to let a similar number of our cars into their markets... "as a group".
The foreign countries "in groups" could then decide just how they want to divide that proportion up.