The economic case in favor of free trade remains as definitive and decisive today as it was when articulated by Adam Smith in 1776. But making an economic case is not enough. The moral and cultural case needs to be made as well.
The sixth round of talks to update the NAFTA will begin later this month in Canada. But Canadian officials are increasingly concerned that President Trump will announce the United States will unilaterally withdraw—either as a negotiation tactic or as a way to shift toward Trump’s favored protectionism. Here is what you should know about the perennially controversial trade agreement.
They agreed. At least on the single issue of foreign trade, Donald Trump and Hillary Clinton agreed the United States must retreat from free trade agreements. In the midst of the most polarized presidential election in living memory, both major party candidates converged on the need to reconsider American-led globalization and take a more protectionist stand in foreign markets.
Over the past year, popular demand to use protectionism to shield workers and companies from cheap foreign products has received more attention. But the focus should be on improving productivity and helping workers transition.