Free trade in Americas interest

“No nation was ever ruined by trade,” stated Benjamin Franklin in the 18th century. Franklin's maxim is just as true today as it was in the 18th century in that trade is enriching nearly all nations today. In the past ten years free trade has done more to alleviate poverty than any well-intentioned law, regulation, or social policy in history. Even the United States benefits from opening its markets to free trade. Two epochal forces …

…of economists. Yet politicians, not economists, make trade policy, and so the principle of free trade often loses out to the practice of protectionism. Free trade is in America’s interest and it would help many of its industries become more efficient. The only industries that will not benefit from world trade are those industries that are inherently inefficient and are perpetuated only though protective measures such as tariffs, quotas, subsidies or other non-tariff barriers.