{"id":9432,"date":"2022-12-01T15:30:49","date_gmt":"2022-12-01T15:30:49","guid":{"rendered":"http:\/\/lonecandle.com\/?p=9432"},"modified":"2022-12-01T15:30:49","modified_gmt":"2022-12-01T15:30:49","slug":"free-trade-would-boost-the-economy-but-its-not-on-the-ballot","status":"publish","type":"post","link":"https:\/\/lonecandle.com\/?p=9432","title":{"rendered":"Free Trade Would Boost the Economy, But It’s Not on the Ballot"},"content":{"rendered":"\n

\n\n“”Contrary to conventional wisdom, imports are not a drag on the U.S. economy or the price we pay to sell goods and services abroad. In fact, rising imports coincide with stronger economic growth,” Scott Lincicome and Alfredo Carrillo Obregon write in The (Updated) Case for Free Trade<\/em><\/a>, a Cato Institute study published in May. “The payoff to the United States from expanded trade between 1950 and 2016 was $2.1 trillion, increasing GDP per capita by around $7,000 and GDP per household by around $18,000.”<\/p>\n\n\n\n

“Higher imports are also correlated with higher private\u2010sector employment in the United States, as numerous industries and workers depend on trade,” they add.”<\/p>\n\n\n\n

…<\/p>\n\n\n\n

“Could high tariffs and “buy American” policies compel firms to find domestic suppliers? Well, maybe. But foreign sources were chosen for a reason; replacing them with domestic suppliers will require compromises. “Subsidising electric cars assembled in North America will make them more expensive and lower-quality,” The Economist<\/em> cautioned of protectionist policies. And since politicized policy tends to breed yet more politicization, tariffs and subsidies will inevitably be further burdened with conditions. “The red tape will raise costs to consumers and taxpayers still further.””<\/p>\n\n\n\n

\n
Free Trade Would Boost the Economy, But It’s Not on the Ballot<\/a><\/blockquote>