Cronyism is certainly nothing new. In these flashbacks, were going to highlight examples of cronyism from the past.
In March 2002, President Bush imposed new tariffs on steel:
President Bush on Tuesday slapped punishing tariffs of 8% to 30% on several types of imported steel in an effort to help the ailing U.S. industry, drawing criticism from American allies and mixed reviews at home…
The action, while short of the 40% tariffs sought by U.S. steel companies, was generally applauded by industry.
Cronyism generally is applauded by industry, at least when it benefits them.