Protectionism and Free Trade

International trade hasn’t had a very good time lately. The outlook is bleak indeed, but it’s not the first time, nor will it be the last.

Chinese plans for east Africa, the Indian Ocean, and a huge Eurasian trade zone make American tariffs a lessening problem for the Chinese state.

Protectionism may provide some short-term benefits to a small number of special interests, but at much greater costs to the rest of society.

Employers that rely on aluminum and steel will now have to pay more for those resources, meaning workers will see lower wages and less hiring.