Policymakers must be constantly reminded of the benefits of free trade and the costs of protectionism. Free trade is the extension of free markets across political borders. Enlarging markets to integrate more buyers, sellers, investors, and workers enables more refined specialization and economies of scales, which produce more wealth and higher living standards. Protectionism does just the opposite. Congress and the administration should pursue policies that expand the freedom of Americans to participate in the international marketplace.
Trade Policy
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Digital Trade Agreements and Domestic Policy
The ongoing domestic policy debates on digital regulation are likely to be contentious, both in the United States and around the world.
Senator Hawley Hates Monopolies and Loves Freedom (Except When He Doesn’t)
His protectionism contradicts his professed stance against market concentration.
Examining the Jones Act’s Harm to U.S. Ports
The Jones Act has heavily contributed to the lack of transshipment in U.S. ports. That’s a missed opportunity for Puerto Rico.
Some New Data on U.S. Anti‐Dumping Abuse
The Department of Commerce’s behavior and the anti‐dumping laws authorizing it serve as a warning about the perils of U.S. protectionism and industrial policy.
Why the Captain of the Ever Given Should Get a Medal
If protectionists were consistent, they should be lauding the captain of the Ever Given for his ability to disrupt trade.
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Herbert A. Stiefel Center for Trade Policy Studies
The purpose of exchange is to enable each of us to focus our productive efforts on what we do best. By specializing in an occupation—instead of allocating small portions of our time to the impossible task of producing each of the necessities and luxuries we wish to consume—and exchanging the monetized output we produce most efficiently for the goods and services we produce less efficiently, we are able to produce and consume more output than would be the case in the absence of specialization and trade. The larger the size of the market, the greater is the scope for specialization, exchange, and economic growth.
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Cato Project on Jones Act Reform
The Cato Institute aims to shake up this status quo by shining a spotlight on the Jones Act’s myriad negative impacts and exposing its alleged benefits as entirely hollow. By systematically laying bare the truth about this nearly 100‐year‐old failed law, the Cato Institute Project on Jones Act Reform is meant to raise public awareness and lay the groundwork for its repeal or reform.