31. The (Updated) Case for Free Trade
- Author:
- Scott Lincicome and Alfredo Carrillo Obregon
- Publication Date:
- 04-2022
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The long‐standing bipartisan consensus in favor of free trade in the United States has unraveled as the nation’s commitment to the multilateral trading system is increasingly subordinated to inward‐looking ideological priorities. Like all forms of market competition, trade can be disruptive for some companies and workers, and various trade agreements may require updating to address both an increasingly authoritarian China and the 21st‐century global economy. Nevertheless, both the seen and unseen economic benefits that free trade has delivered to countless individuals, businesses, and communities in America are undeniable and irreplaceable. Furthermore, the lone alternative to free trade, protectionism, has repeatedly proven to impose high costs for minimal benefits. In short, the case for free trade is an economic no‐brainer.
- Topic:
- Geopolitics, Economy, Free Trade, and Protectionism
- Political Geography:
- North America and United States of America