My Bloomberg debate with Noah Smith on free trade

Here are a few sentences from me:

I take the contrarian view that the benefits of trade deals are more typically underappreciated.


But Noah, you are my Exhibit A for my claim that many economists are still undervaluing the benefits of trade. You’ve written on losers from globalization, but not sufficiently stressed the point that tariffs are an especially regressive tax. They tend to be applied to food and clothing, which the poor spend a disproportionate share of their income on. A lot of the poor also have service jobs that aren’t hurt so much by trade with lower-wage nations. In other words, free trade is (usually) a good antipoverty remedy.

Noah had some sentences too.


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