“If we abandon free trade, we’re throwing in the towel on being globally competitive, and taking up protectionism again. Ronald Reagan would be ashamed.”
We can’t abandon what we don’t have. We have managed, negotiated trade that rewards some while punishing others in the US. And outside of Europe and a few other locations, most of our trading “partners” have very much kept their markets closed. They know that’s a proven model for growing their economies.
“And outside of Europe and a few other locations, most of our trading “partners” have very much kept their markets closed.”
I do not at all disagree that we shouldn’t honor free trade agreement with countries that don’t return the favor. But when both sides act as agreed, the benefits are enormous. Returning to protectionism is like hiding behind a fixed fortification in a battle. Its stupid, and you’re going to lose.