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Either the president still doesn’t understand that American consumers pay a large chunk of these tariffs (and that these tariffs are bad for the overall U.S. economy) or he is truly proud to penalize Americans who buy foreign goods that he doesn’t approve of.
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Want to become a champion of liberty? Eschew historicism. Be suspicious of grand millenarian eschatologies. Learn to love the little things in life. Celebrate every individual’s right to choose how they live their lives. Smile when you think of every box of chocolate given and received this February 14th.
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My ideal is for each government to immediately abolish all tariffs and other trade restrictions, regardless of what any other government does or doesn’t do. That is, I fully support a policy of unilateral free trade.
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The government shutdown should serve as a reminder of the dangers of all government regulation, especially when the regulators block the freedom to trade, promise to make exceptions, and then fail to perform at all.
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List posited a conflict between the interests of commercial society and the interests of the nation as a whole.
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No country grows prosperous by dampening its citizens’ incentives to improve their skills as workers.
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Tragically, too few Republicans and market defenders have called out the Trump administration for itsterrible trade policies.
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But because no one in a market economy is entitled to his or her particular source of income, whenever competition obliges producers to adjust to the demands of consumers, producers — while paying the costs of participating in a market economy — suffer nothing that ought to be described as losses.
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It’s been a rough 2018 for those who support free trade across borders, but the Economic Policy Institute has unwittingly given us a lovely Christmas gift. While attempting to show how much the U.S. aluminum industry has benefited from the ten percent tariff imposed in March, it ends up demonstrating that even from an “American first” perspective, tariffs are money horribly spent.
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Saying that trade has losers suggests that stopping trade would eliminate such losses. Wrong.
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For one thing, contrary to the administration’s promise, unilaterally raising tariffs hasn’t resulted in reduced foreign tariffs and better access to foreign markets for U.S. exporters. Instead, foreign tariffs have gone up, and threats of retaliation continue. That explains some of the drop in exports to China. But that’s not all that is at play here.
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For China to crack down on its supposed violators of IP, import US law as its own, permit US courts to enforce it, and acquiesce to every other point demanded by the US, even if these impossibilities were possible, would end in making its economy less free, less productive, and more dangerous for free enterprise.
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