This article has a few interesting things to say and a few that are not.
But one line that was interesting is this:
"Trade protections, whether through tariffs or quotas, cost the economy roughly $2 for every $1 in additional profit for domestic producers,"
Dr. Who, I have less confidence in the determinations of the more right wing American Enterprise Institute and greater confidence in those of the more left wing Economic Policy Institute.
I do believe that the U.S. Congressional Budget Office is non-partisan but they only answer the questions that the U.S. Congress has the courage and integrity to ask. As with many polls, research and think tank organizations, the answers they develop are highly dependent upon the wording and the manner of their questions.
I don’t know how the AEI reached their conclusion that “Trade protections, whether through tariffs or quotas, cost the economy roughly $2 for every $1 in additional profit for domestic producers”.
That may be true and it’s conceivable that their figures could be correct but I’m reluctant to accept any opinion without trying to examine and test the logic that supports it.
I’m a proponent of a market driven policy of transferable Import Certificates, that’s entirely funded by U.S. purchasers of foreign goods, and indirectly but effectively subsidize exports.
I do not know how the AEI reached their conclusions but I doubt if they specifically considered anything similar to the trade proposal I advocate. To the extent that all of the policies the AEI considered differ from the policy I advocate, their opinion is not germane to the specific policy of transferable Import Certificates that I support.