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Trade Policy

Policymakers must be constantly reminded of the benefits of free trade and the costs of protectionism. Free trade is the extension of free markets across political borders. Enlarging markets to integrate more buyers, sellers, investors, and workers enables more refined specialization and economies of scales, which produce more wealth and higher living standards. Protectionism does just the opposite. Congress and the administration should pursue policies that expand the freedom of Americans to participate in the international marketplace.

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  • February 21, 2025
    Blog
    The Folly of Tariff Reciprocity
    The Folly of Tariff Reciprocity
    A policy of tariff reciprocity would surrender US policymaking to foreign governments, increase prices for American consumers, and create new burdens for the country’s businesses.
    By Colin Grabow
  • February 21, 2025
    Blog
    The High Costs of Eliminating De Minimis Shipping
    The High Costs of Eliminating De Minimis Shipping
    The de minimis exemption serves as a crucial trade facilitation tool that particularly benefits lower-income consumers. Rather than eliminating it, a more effective solution would be to address the underlying incentives by eliminating tariffs on clothing and footwear—the primary product categories using the exemption.
    By Clark Packard
  • February 10, 2025
    Blog
    More Costly Steel Tariffs on the Horizon
    More Costly Steel Tariffs on the Horizon
    Sixty-plus years of American steel protectionism—and nearly seven since the first Trump administration’s “national security” tariffs—have not succeeded at reversing the industry’s long-term decline. Yet they have imposed and continue to impose significant costs on Americans.
    By Clark Packard and Alfredo Carrillo Obregon
  • February 6, 2025
    Blog
    ‘De-Globalization’ Still Isn’t Happening (At Least Not Yet)
    Buried in yesterday’s Census Bureau release of the latest US international trade data for full-year 2024 was a nice reminder that, for all the talk of tariffs and “de-globalization,” American consumers and companies aren’t having any of it—at least not yet. In fact, inflation-adjusted US goods imports hit an all-time high last year.
    By Scott Lincicome and Alfredo Carrillo Obregon
  • January 17, 2025
    Blog
    "Let Them Eat Fish"
    “Let Them Eat Fish”
    About 90 percent of all avocados consumed in the United States are imported, and Americans enjoy hundreds of billions of dollars worth of food from abroad, much of it fresh fruits and vegetables that can’t be grown here in significant commercial quantities. Tariffs on these products would mean higher US food prices and less variety at the supermarket, making us all a little poorer in the process.
    By Scott Lincicome
  • January 3, 2025
    Blog
    A “Mess” Compared to What, Mr. Cass?
    A “Mess” Compared to What, Mr. Cass?
    But a good economist will not simply assess the seen; he will also assess the unseen, including the ever-important question, “compared to what?” And that’s where Cass’s thesis most obviously dissolves.
    By Ryan Bourne
  • January 3, 2025
    Blog
    Nippon Steel and the "National Security" Hoax
    Nippon Steel and the “National Security” Hoax
    The politicization of the Nippon Steel deal and “national security” has potential harms that go way beyond the two companies or even the industry at issue.
    By Scott Lincicome
  • December 13, 2024
    Blog
    Protectionist Sightseeing in New York Harbor
    Protectionist Sightseeing in New York Harbor
    An underappreciated paradox of ferry rides to the Statue of Liberty is that visitors to the world’s most famous monument to liberty are transported by vessels rooted in coercion.
    By Colin Grabow
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