Jul
9
Free trade is a good thing
July 9, 2025 |
Terms of Trade and the Gains from Trade | AP Macroeconomics | Khan Academy
The Benefits of Free Trade: Addressing Key Myths
By Donald J. Boudreau and Nita Ghei
The growing rhetoric about imposing tariffs and limiting freedom to trade internationally reflects a resurgence of old arguments that stay alive in large part because the benefits of free international trade are often diffuse and hard to see, while the benefits of shielding specific groups from foreign competition are often immediate and visible. This illusion fuels the common perception that free trade is detrimental to the American economy. It also tips the scales in favor of special interests seeking protection from foreign competition. As a result, the federal government currently imposes thousands of tariffs, quotas, and other barriers to trade.
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