Although free trade has gained increasing acceptance among policymakers over time, challenges to it have remained omnipresent. The latest of these challenges has manifested itself in increased tariffs on steel and aluminum in the United States and on a number of selected products in India. In a new bulletin, economics professor Arvind Panagariya explores the harmful long-term consequences of the United States’ recent turn to protectionism, and argues that history forcefully demonstrates the power of openness to trade, particularly in the developing world.
In part two of the focus on America’s Nuclear Crossroads, Emma Ashford and guest host Eric Gomez delve into the future of arms control agreements with Maggie Tennis of the Brookings Institute.
America’s strong economic growth and high living standards were built on our relatively smaller government. However, America’s lower-spending advantage has diminished.
China’s military capabilities in the Western Pacific are growing rapidly, and Beijing’s policy ambitions appear to be expanding at a pace to match or exceed those capabilities.
