Free trade improves the well-being of all parties to it. The most significant way that trade achieves this outcome is by enabling and incentivising specialisation in production, and also encouraging mechanisation and innovation. As specialisation deepens, and as mechanisation and innovation...

Restrictions on foreign trade all too often harm the very people they aim to protect: American consumers and producers. Trade restrictions limit the choices of what Americans can buy; they also drive up the prices of everything from clothing and groceries to the materials manufacturers use to...