U.S. Should Eliminate All Barriers to Free Trade
By David Holcberg
In his recent address to the U.N. World Summit, President Bush said that the United States is "ready to eliminate all tariffs, subsidies and other barriers to the free flow of goods and services, as other nations do the same."
But why wait for other nations to "do the same"?
Eliminating all tariffs and quotas on imported products would benefit Americans even if other nations kept their own quotas, tariffs and subsidies. Why? Because without protectionist measures Americans would benefit from the freedom to buy cheaper goods. Leaving aside the case of enemy nations, if Americans believe it is in their self-interest to buy from foreign producers, they should have the right to trade with them without restriction--and to pocket the savings.
Forcibly depriving Americans of the benefits of unrestricted trade is not only bad economics, it is a violation of their rights.