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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.

July 19, 2016

Trade Protectionism Is Crony Capitalism


If you oppose crony capitalism, and you should, then you should also oppose trade protectionism.

July 6, 2016

Trump Very Wrong About Trade


Hillary Clinton and Donald Trump are proposing the most protectionist, anti-trade policies we’ve heard since President Herbert Hoover signed the Smoot-Hawley Tariff Act in 1930.

July 5, 2016

Responding To Trump's Spasm of Protectionism


IPI expert referenced: Merrill Matthews

Donald Trump’s anti-free-trade bloviating of late might give the impression the whole party has lost its bearings on this economic issue. Fortunately, like so much else, Trump doesn’t talk for Republicans.

July 1, 2016

Scholar Debunks Trump's Trade Speech


IPI expert referenced: Merrill Matthews

Presumptive Republican nominee Donald Trump’s trade policy speech this week was misleading on the actual state of U.S. trade, a scholar with the Institute for Policy Innovation said in a Rare op-ed published on Friday.

July 1, 2016

Donald Trump's Speech On Trade Was Packed With Misleading Nonsense


Hillary Clinton and Donald Trump are proposing the most protectionist, anti-trade policies we’ve heard since the Smoot-Hawley Tariff Act. Trump recently delivered a speech intended to demonstrate his grasp of trade policy, so it’s worth fact-checking some of his comments.

June 29, 2016

Trade Is Good and Normal


Free trade between people who specialize in different things is the natural state of affairs. Trade agreements provide the rules and remedies should one party try to take advantage of the other. We thought these things were obvious, but apparently not.

June 28, 2016

The Tangled Politics of Trump's Speech Blasting "Globalization"


IPI expert referenced: Tom Giovanetti

"Dear GOP delegates: You cannot nominate someone who endorses these positions," Tom Giovanetti, the president of a free market think tank, tweeted, adding, "Trump would turn the Republican Party into the party of economic know-nothings."

June 17, 2016

Here's the President Donald Trump Most Resembles


The former Republican president who Trump most resembles isn’t Reagan, but Herbert Hoover, who served from March 1929 to March 1933, when his reelection bid was defeated by Franklin D. Roosevelt.

May 17, 2016

Free Markets = Free Trade = Free Markets


Free markets and free trade are two sides of the same economic coin; those who claim to support free markets should also support free trade.  

May 4, 2016

The Social and Political Cost of Slow Economic Growth


The American people are blaming other countries and other people for a slow-growth wound that is self-inflicted.

 

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