Thursday, December 22, 2016

Move from Free Trade to Fair Trade?

A CNN news alert said that the Trump transition team is studying the possibility of an executive action to impose import tariff into America.
I believe that the re-introduction of import tariff in all countries around the world is necessary to deal with the different wage levels and cost of living in these countries.
It is an attack on "free trade" but is the embodiment of "fair trade", which will help to protect the workers to get decent wages.
I hope that the Trump administration will make this possible. It will lead to less global trade, but will be result in lowering the income gap in most of the countries.
There will be winners and losers in the "fair trade" regime and that countries can adjust to the new regime.

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