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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.

May 13, 2020

Coalition Letter Regarding the Imposition of New Buy America Requirements for Medical Goods and Pharmaceutical Products

In this letter to the administration, economists from numerous organizations encourage the U.S. and its trading partners to pursue policies that make medical supplies more plentiful and affordable.

April 7, 2020

Coalition Letter Regarding the Proposed "Buy American" Mandate

If implemented, a Buy American mandate would disrupt existing supply chains, invite retaliatory actions from trading partners, and threaten timely access to medicines. In this current health crisis, such a mandate could even threaten our ability to adequately respond to the pandemic.

April 3, 2020

Pandemic-induced Protectionism Endangers Lives

The pandemic has demonstrated the need for more diversity in the pharmaceutical supply chain, not less.

February 11, 2020

Two Cheers for Trump's Budget and a Big Boo for Democrats' Response

A step-in-the-right-direction budget—if the reality matches the rhetoric, which it often doesn't.

January 15, 2020

A Balanced Assessment of the U.S.- China Trade Deal

One of the president's top trade advisors sees nothing but positives from imposing tariffs. A more balanced view sees some positives, but many negatives. 

August 20, 2019

The Recession Threat Is Real

President Trump and administration officials are downplaying fears of a recession. While a recession isn't imminent, the threat is very real. 

August 1, 2019

How Is the Tariff Working Out for the U.S. Steel Industry?

President Trump presumably wants to help the steel industry prosper. To do that, his administration needs to find an acceptable tariff exit strategy as quickly as possible. 

July 30, 2019

Back to the Slow-Growth Economy

The economy is doing well, just not as well as we thought—or hoped. If Trump plans to run for reelection on a record of strong economic growth, he needs to resolve some lingering issues.

June 5, 2019

Tariffs Are Taxes

President Trump is threatening to raise taxes on Americans. Again. That’s because tariffs are taxes, and they are paid by Americans, not by foreigners.

May 30, 2019

Iran Can Rattle Sabers But Not Oil Prices

The Iranian government is rattling sabers once again. In years past those tensions would have sent world oil markets into a panic. Not so this time around. 

Total Records: 148