In reality, the only form of fair trade is free trade. How do you define fair trade? In the name of fairness, different groups advocate different protections for their specific industries and call the comparative advantage of other countries "unfair."
So called "fair trade" is really nothing more than protectionism that requires government intervention to determine what industries will be protected, what tariff will be applied and for how long.
It amazes me that so many conservatives here can, out of one side of their mouth, bash Bush for causing bigger government while, out of the other side, demand government do something about their perceived inequities in trade as if, when it comes to these things, government is instantly transformed into a responsible, capable and reliable entity. I see a lot of inconsistency with that argument.
Um what I'd like to see is for this government, no matter who the president go back to traditional trade policies. Yes we can trade with China but if they start dumping on us we're slapping tariffs on them until they behave. Oh and they're going to have to take in our products as well, not put up barriers to protect their markets.
Try this one on for size:
Reagan slaps tariffs on foreign motorcycles. Hero.
Bush 43 slaps tariffs on foreign steel. Goat.