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The Economic Case for Free Trade Is Stronger Than Ever: New at Reason

"This is a cultural issue as much as an Economic issue," explained Chris Matthews on MSNBC's Morning Joe in March.

Matthews and I had been invited to discuss Donald Trump's punishing new Tariffs on imported steel and aluminum, a policy Matthews was convinced would resonate with "the retired person in Pennsylvania." After Joe Scarborough teasingly introduced me as a "sophisticate from Boston," one of those guys who has "never done work with their hands," I argued that this was "dumbass economics"—Trump's tariffs will be terrible for Americans, low-skilled workers very much included. Asked to respond, commentator Mike Barnicle acknowledged that I had all the facts on my side but concluded that "loss is the key, and loss triumphs over facts…loss is emotion, loss is nostalgia, and loss sends people to the polls."

And that is where we are. The case for protectionism is weaker than at any moment in this century. Neither the Trump administration nor its supporters have any valid economic or national security reason for these tariffs, and even tariff supporters admit it. Still, actual trade policy will get worse in the short run. The current schism on the issue has little to do with economics and everything to do with identity, and the metamorphosis of this debate spells trouble for defenders of the open global economy, writes Daniel W. Drezner.

View this article.



This post first appeared on FREEDOM BUNKER: The Best Libertarian News And Chat, please read the originial post: here

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The Economic Case for Free Trade Is Stronger Than Ever: New at Reason

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