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The Myths and Realities of Trade Protectionism

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Publication Date: September 2002

Publisher(s): Heritage Foundation (Washington, D.C.)

Author(s): Bryan T. Johnson

Topic: Trade (Free trade and protection)

Keywords: Trade and foreign aid

Type: Report

Abstract:

America has a long history of advocating free trade, and, despite the claims of many, has been a free trade country throughout most of its history. When America has strayed from the path of free trade, the result has been economic hardship. Yet America today is on the brink of reviving protectionist policies that have failed in the past. The consequences would be all too predictable: lower living standards for all Americans, higher levels of unemployment, more business bankruptcies, and lingering economic decay.