Truly free trade can only take place in free markets, not in the prevailing mixed economies where governments pick favored trading partners
Those countries that embrace free trade with new technologies stand to reap great rewards. Those who do not, and revert to trade protectionism, could experience economic recession and monetary adversity accompanied by serious social and financial upheaval.
Protectionism is not a recipe for prosperity—free trade is.
Americans will most gain from whatever trading opportunities that may offer themselves around the globe if the U.S. government follows a strict and principled policy of unrestrained and unrestricted free trade with any and all nations of the world.
“The philosophy of protectionism is a philosophy of war.”
International trade operates under the same general principles as domestic trade.
Is the protection of domestic jobs more important than the protection of individual rights?
Protectionism fully implemented across all industries would mean a lower standard of living, because it would result in capital and labor unnecessarily being diverted into the production of goods that could more economically be produced elsewhere.