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“It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy . . . . If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage.”

-Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776

IPI believes the United States should aggressively pursue trade liberalization, which includes a willingness to lower our own trade barriers even when other countries do not respond reciprocally.  Ideally, those efforts include multilateral agreements, such as the Trans-Pacific Partnership, but bilateral agreements can also promote freer trade. 

American consumers bear the brunt of the protectionist impulse through higher prices on consumer goods, and American workers are best served when liberalized trade policies facilitate the export of American products throughout the world.  At a time when protectionist sentiments are growing, it is important to assert that the U.S. and its workers have nothing to fear from trade, and everything to gain.

February 6, 2018

Trump May Have a Prescription for High Drug Prices


President Trump wants to address the high price of some prescription drugs, and new bilateral trade agreements would be a good place to start.

January 23, 2018

Trump Tries to Save U.S. Solar but May Kill It Instead


President Trump has imposed tariffs on imported solar panels and solar cells, but is that an effort to save the solar industry or undermine it?

January 3, 2018

U.S. Trade Agreements: Reasons For Restraint


IPI expert referenced: Merrill Matthews

As Merrill Matthews of the Institute for Policy Innovation noted in a Jan. 2 Wall Street Journal op-ed column, NAFTA participants Canada, Mexico and the United States are codependent on energy and benefit from the trade agreement’s tariff terms.

September 12, 2017

Swazi Farmers Brace for Life Without Their Sugar Daddy


IPI expert referenced: Tom Giovanetti

With the EU set to lift caps on sugar production, African producers could be squeezed out of a market that has propped up places like Swaziland for years.

September 11, 2017

African Farmers Brace for Life Without Sweet Support From EU


IPI expert referenced: Tom Giovanetti

More than 100 countries, from Cuba to India to Russia, produce sugar from sugarcane and sugar beet. Many of them are able to undercut the prices demanded by Swazi farmers, who receive no subsidies from their government, in markets such as West Africa and the Middle East.

August 8, 2017

Energy Independence Is Close, but Not Close Enough


The U.S. is becoming a net natural gas exporter, which is one step closer to energy independence.

July 19, 2017

When Trump Touts 'Made in America' He Should Talk Energy Too


There is at least one sector where “Made in America” means a stronger economy — not a weaker one.

June 15, 2017

IPI Congratulates Vishal Amin on IPEC Nomination


IPI congratulates Vishal Amin on his nomination by the U.S. Senate Judiciary Committee to be the next U.S. Intellectual Property Enforcement Coordinator, and urges the Senate to swiftly approve Amin’s nomination.

May 30, 2017

Trump's Tweet Tirade Against Germany Could Backfire On U.S.


IPI expert referenced: Merrill Matthews

"The U.S. has a trade deficit because consumers have money to spend — and they spend it," said Merrill Matthews, IPI resident scholar, in a recent post. "Moreover, when U.S. consumers buy foreign goods and services (the current account), that money returns in the form of investment (the capital account). In other words, the accounts balance."

May 30, 2017

Why Is Trump Complaining About German Trade?


Germany produces quality products and services that consumers, including Americans, voluntarily choose to buy. So why is President Trump criticizing Germany's trade surplus?

 

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