The Real Story about Trade, Jobs, and Living Standards

Americans are being told that expanding trade has put downward pressure on U.S. jobs and wages, leaving most Americans worse off, and this growing perception has undermined support for trade-liberalizing agreements. In a comprehensive new study, the Cato Institute's Daniel Griswold finds that a decade of rapid trade expansion has actually lifted the income levels of most American workers and families. Griswold's study systematically examines trends in job growth and displacement, real wages and benefits, household income, and household net worth, finding that Americans are better off because of free trade.