Second, too few people understand that the economic reasons to support free trade-that is, getting rid of all trade barriers, including tariffs-do not depend on what other countries do.
Trade negotiations under this misapprehension did make trade freer.
The backward underlying belief was never sufficiently challenged, and so it was only a matter of time before free trade lost ground as the official ideology of policy intellectuals.
Some free trade sympathizers have floated the possibility of Congress reclaiming its power to impose tariffs from the White House.
Sen. Mike Lee has introduced the Global Trade Accountability Act, which would require congressional approval for tariff increases or other "Unilateral trade actions." Unfortunately, if this otherwise well-designed bill became the law of the land, it would be akin to guarding the hen house with a hungry dog instead of a fox.
As long as most members of Congress fail to understand what free trade is really about-that is, as long as they fail to recognize that trade deficits aren't a problem and that foreign trade barriers penalize non-Americans far more than people here-requiring congressional approval will do little to protect us against tariffs.
Want evidence? Behold how the allegedly free trade Sen. Marco Rubio eagerly supports protectionist measures against China in "Retaliation" for that country's "Unfair" trade practices.
http://reason.com/archives/2018/11/01/next-steps-in-the-fight-for-fr
Trade negotiations under this misapprehension did make trade freer.
The backward underlying belief was never sufficiently challenged, and so it was only a matter of time before free trade lost ground as the official ideology of policy intellectuals.
Some free trade sympathizers have floated the possibility of Congress reclaiming its power to impose tariffs from the White House.
Sen. Mike Lee has introduced the Global Trade Accountability Act, which would require congressional approval for tariff increases or other "Unilateral trade actions." Unfortunately, if this otherwise well-designed bill became the law of the land, it would be akin to guarding the hen house with a hungry dog instead of a fox.
As long as most members of Congress fail to understand what free trade is really about-that is, as long as they fail to recognize that trade deficits aren't a problem and that foreign trade barriers penalize non-Americans far more than people here-requiring congressional approval will do little to protect us against tariffs.
Want evidence? Behold how the allegedly free trade Sen. Marco Rubio eagerly supports protectionist measures against China in "Retaliation" for that country's "Unfair" trade practices.
http://reason.com/archives/2018/11/01/next-steps-in-the-fight-for-fr
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