Government policies made formula worse
During an interview broadcast in Friday’s issue of Bloomberg’s “Wall Street Week,” a Harvard professor, economist, director of the National Economic Council under President Barack Obama, and Secretary of the Treasury under President Bill Clinton Larry Summers stated that if state governments had rules Better Purchases, “We’d be in a better position with infant formula today.” They criticized the exorbitant tariffs on infant formula.
“We must push for strong competition,” Summers said. “Perhaps the single most important tool the government has for promoting competition in key industries is maintaining open markets, where foreign companies can access American markets and can compete with American producers, which, in return for US producers are getting more access to foreign stores Trade liberalization is fundamental to competition in the economy and should be at the forefront of any kind of competition policy If we didn’t have 17.5% tariffs on infant formula we’d be better off Much more regarding this issue today. If governments had more reasonable procurement policies, with regard to infant formula at the state level, we would be in a better position with regard to infant formula today. So, yes, I applaud the administration’s focus on competition policy. But it does mean that We have to respect all competitors who can help American families.”
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