The Benefits of Free Trade: Addressing Key Myths
Trade and Immigration | Policy Briefs | May 23, 2018
5 Pages Posted: 5 Dec 2019
Date Written: January 23, 2017
Restrictions on foreign trade all too often harm the very people they aim to protect: American consumers and producers. Trade restrictions limit the choices of what Americans can buy; they also drive up the prices of everything from clothing and groceries to the materials manufacturers use to make everyday products. Moreover, lower-income Americans generally bear a disproportionate share of these costs. Trade treaties increase freedom to trade and do not result in loss of sovereignty; they are part and parcel of wider international relations and they are not new.
Keywords: International trade, exports, imports, tariffs, protectionism
JEL Classification: F10, F13, F19
Suggested Citation: Suggested Citation