Free and Fair Trade - The case made out for the two

How should trade policy be? What should be its focus and what should be its limits? Where does one intervene and where does one back off in trade policy? What should an approach in international trade policy be vis a vis partners or adversaries? What should form part of the trade agreement bucket? Deep trade agreements or bare minimum market access? How should one engage with the multilateral trading system - streghtne it or break away?

Trade negotiators often face such quinessential questions of existence. How does one protect national interest without disrupting free trade? How does one protect domestic industry, consumers and agricultursist without being restrictive? How does one build the economy on the principles of free trade and enterprise?

If one wants to understand some of these naunces - 2 must read pieces from Project 2025

1. The Case For Free Trade by Kent Lassman

Some key takeaways from this one - have humility that trade policy is not a magic wand that will solve all problems. Trade policy should be exactly that - involving trade and non-trade issues (labour, climate change, gender, intellectual property) should not find a place in trade agreements. This is an interesting take:

Trade-unrelated provisions are routinely hijacked by progressives and rent-seekers and dilute otherwise worthwhile trade agreements. They also create additional points of contention that make agreements unnecessarily difficult to pass. A conservative trade policy should limit trade-unrelated provisions in trade agreements.The WTO should be revived or atleast replaced by an alliance of free trade supporters. Believe in entrepreneurship and free trade.

2. The Case For Fair Trade by Peter Navaro

Keytakeaways from this one - The WTO's MFN principle institutionalises non-reciprocal tariffs and it needs to be addressed. The danger of excessive trade deficits and how they endanger national and economic security. China's dominance in the global trading system due to Satte support needs to be checked. And, yes, the importance of having the right personnel in the right job. I found importance placed on finding the right person for the job as extremely revealing.

In thinking about the personnel positions that are most essential to effective implementation of trade policy, the most obvious position to get exactly right is that of the United States Trade Representative. The USTR is at least putatively the top offcial on trade policy, and it is critical that this position be filled wisely.

Two of the most relevant pieces if one wants to understand the current thinking, approaches and dilemmas in today's chaotic trade policy world.