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Why “Trade Deals” Are Even Worse Than Tariffs

Summary:
Conventional wisdom holds that treaties represent countries getting together peacefully to advance humanity’s goals, while tariffs represent dog-eats-dog negative-sum competition that can provoke wars. Yet treaties, being complex and negotiated in secret, are mostly the work of rent-seeking bureaucrats, whereas the competition of tariffs provides international relations with valuable grit, preventing countries from conspiring together against ordinary people. As new treaties get sillier, it becomes clearer: they do far more damage, economic and to liberty, than do tariffs. https://www.tbwns.com/2019/10/14/the-bears-lair-treaties-do-more-damage-than-tariffs/#more-2139

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Conventional wisdom holds that treaties represent countries getting together peacefully to advance humanity’s goals, while tariffs represent dog-eats-dog negative-sum competition that can provoke wars. Yet treaties, being complex and negotiated in secret, are mostly the work of rent-seeking bureaucrats, whereas the competition of tariffs provides international relations with valuable grit, preventing countries from conspiring together against ordinary people. As new treaties get sillier, it becomes clearer: they do far more damage, economic and to liberty, than do tariffs.

https://www.tbwns.com/2019/10/14/the-bears-lair-treaties-do-more-damage-than-tariffs/#more-2139

David Stockman
David Alan Stockman (born November 10, 1946) is a former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.

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