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Trade Policy

Trump is completely wrong about the U.S. trade deficit

Trump is completely wrong about the U.S. trade deficit

Thomas Sowell once explained that economists visit the dentist so often because we gnash our teeth hearing so much “ignorant nonsense about the economy.” Thanks to the gibberish spewed almost daily about international trade, dentists must be having an especially busy year.

Virtually all economists support free trade and oppose protectionism. For example, a 2014 University of Chicago survey found that 93% of the country's top economists agreed with the statement “Past major trade deals have benefited most Americans” and none disagreed (7% were uncertain).

Despite that consensus, Sen. Bernie Sanders proudly proclaims...

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