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The US tariff code stands as a barrier to reviving the US economy as it begins to recover from the coronavirus shutdown. Mounting evidence shows that statutory tariffs and the tariffs imposed by the Trump administration since 2018 are compounding the economic damage caused by the COVID-19 virus...
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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...
Persistent link: https://www.econbiz.de/10013225184
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...
Persistent link: https://www.econbiz.de/10012846691
Proponents of unilateralism applaud the trade liberalization that has occurred since World War II as a result of the General Agreement on Tariffs and Trade, its successor, the World Trade Organization, and other regional and bilateral trade deals. Yet liberalizing trade in this way is, from the...
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