Trump Tariffs Redefine Free Trade in Face of China Economic Aggression

Container ships sit moored next to shipping containers and gantry canes at Kwai Tsing Container Terminal in Hong Kong, China, Oct. 16. (Getty Images)

By    |   Friday, 20 December 2024 07:27 AM EST ET

Classic economic Free Trade theory has counseled against tariffs for hundreds of years. Revered and historic founders of modern, capitalist, economist principles such as Adam Smith and David Ricardo were against tariffs.

Smith wrote "Wealth of Nations" and introduced the "invisible hand" viewpoint that government should stay out of markets and let producers and buyers work things out. Ricardo introduced "comparative advantage" where nations specialize in what they are best at and production flows naturally to the country which can be the most efficient.

John Mills

Col. John Mills, ret., served 33 years in the Army and also as a senior civilian in government and at national security-related think tanks.  He is the former director of cybersecurity policy in the Office of the Secretary of Defense.

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Classic economic Free Trade theory has counseled against tariffs for hundreds of years.
tariffs, donald trump, deter navarro, free trade, china, tariffs
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2024-27-20
Friday, 20 December 2024 07:27 AM
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