Tag: Unilateral Free Trade

Why the UK should cut tariffs on the US, not raise them

The siren calls for retaliation against the US if President Trump imposes new tariffs on the UK remind me of this exchange from 'Braveheart'.... Longshanks: Archers! English Commander: I beg pardon, sire. Won't we hit our own troops? Longshanks: Yes... but we'll hit theirs as well. The serious point here is that tariffs hurt people … Continue reading Why the UK should cut tariffs on the US, not raise them →

Importing is “GREAT”, too

The UK government promotes international trade under the banner ‘Exporting is GREAT’. This is laudable, but the economic benefits of free trade come mainly from what countries import, rather than from what they sell overseas. This is the main message from a paper I wrote recently for the Institute of Economic Affairs. Of course, it is not … Continue reading Importing is “GREAT”, too →