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  • What to Look for in Next Week's Release of U.S. Trade Statistics

    On February 11, the U.S. Department of Commerce will release our country’s 2010 trade statistics. The following three principles will help in understanding what the numbers mean: Unlike the U.S. budget deficit, the size of the trade deficit does not matter. The trade deficit results from people in other countries … More

    Who Really Likes Freedom? People Who Aren’t Free

    The French Institute of Public Opinion recently asked people in several countries whether the market system and capitalism work quite well and should be retained or if they are malfunctioning and should be abandoned. By a four-to-one margin, Americans believe the market system should be retained. Overall, 55 percent believe … More

    Americans Believe Trade Is Rather a Good Thing

    Reports that Americans are becoming increasingly hostile to trade are greatly exaggerated. The French Institute of Public Opinion (IFOP) recently polled people in several countries to compare their attitudes on trade and economics. Asked whether international trade is good for the United States or bad, Americans were 50 percent more … More

    The United States Needs Fair Referees for International Disputes

    Last night’s BCS Championship game pitted the Auburn Tigers from the Southeastern Conference (SEC) against the Oregon Ducks from the Pac-10. To guard against biases that could have influenced the game’s outcome, officials were provided by the Big 10. If football-crazed fans from Auburn and Oregon can understand why referees … More

    South Korea–U.S. Trade Deal: Better Late Than Never

    When the proposed South Korea–U.S. Free Trade Agreement (KORUS) was initially signed on June 30, 2007, Heritage Foundation analysts recognized significant benefits that would come from implementation of this landmark trade deal. Those benefits included more exports, more export-related jobs, and a stronger economy. As the Obama Administration has pointed … More

    South Korea Trade Pact: More Important Than Ever

    The economic case for the South Korea–U.S. Free Trade Agreement (KORUS) has been variously described as a “slam dunk,” a “pareto-optimal solution,” and “an easy ‘yes.’” However, aside from the economic arguments for KORUS, recent events in the Korean peninsula make approval of the agreement more important than ever. On … More

    The Obama Administration’s Self-Destructive Trade Policy

    Following the shocking inability of U.S. and South Korean trade negotiators to reach agreement on changes to a proposed Korea–U.S. Free Trade Agreement (KORUS), the biggest question was whether the failure was due to a conscious decision by President Obama or to stunning incompetence. However, if negotiators had managed to … More

    The Tea Party: America's Oldest Free Traders

    In 1773, American colonists dumped 342 chests of tea into the Boston Harbor. Their unwillingness to pay duties on imported tea made them our country’s original free traders. As Constitutionalists, Tea Party members are likely to recall that the U.S. Constitution gave Congress the power to regulate commerce with foreign … More

    Is the Media Reporting or Distorting American Opinions About Trade?

    The media seem intent on convincing Americans that they no longer support free trade. A recent article in The Wall Street Journal, for example, begins “The American public, already skeptical of free trade, is becoming increasingly hostile to it.” The article goes on to report that the results of a … More

    Public Citizen and EPI on Trade and Employment

    Reports from the Economic Policy Institute (EPI) are being misrepresented by leftist organizations like the AFL-CIO and the Alliance for American Manufacturing. The purpose of these misrepresentations? To create a false and misleading picture of the relationship between international trade and employment. Close examination reveals that trade deficits are not … More