The concept of a free global trade is unnecessary for a power like the US. Basically everything can be produced in the in the US and be freely traded among the 50 US states and its territories. Each US state is a country of its own. Therefore, we already have a system of free trade among 50 countries that are members of the Union because of the laws of interstate commerce without any restrictions or tariffs. There are very few raw materials and food items that cannot be produced within this system of interstate commerce. Those few items can be obtained on the global markets, but the free global trade is not mandatory nor is it desired for that purpose.
The US is unlike almost any other country in the world in that respect. The smaller powers like Israel or the Netherlands (or almost any other European or Asian or Latin American country for that matter) must rely on global trade to satisfy all of its needs due to the relatively small size of their economy. We, the US, on the other hand are blessed with the natural resources and strong state economies that are capable of satisfying 99.9% of our needs. Free global trade hurts us more than it benefits us. The testament to that tenet is the tremendous US trade imbalance, which is about $1 trillion per year. That trade imbalance has contributed greatly to our $22 trillion national debt.
We are unique in a respect that we would benefit greatly as a nation from removing ourselves from the global markets. The only exception I would advocate for is the inclusion of Canada in our North American trade system if they so desire due to the economic, geographic, and cultural closeness between our two countries as well as similar standards of living and similar salaries.
The point is not that there's very little we couldn't do ourselves, the point is that I am an individual with rights, and my rights don't end at the borders of this country. They purpose of government is to protect -- not give, but
protect -- my rights. That includes, but is not limited to protecting my right to associate with whomever I want, so long as I'm not violating someone else freedom of action in doing so.
The argument from efficiency or self-sufficiency is irrelevant, as it does not address the fundamental issue at play: Individual rights. I am a rational individual, which means I have the right to act according to my judgement. That right includes the right to purchase things from people in other countries, even if those countries are violating their rights by imposing tariffs on them. If you think we would be better off if we closed the country off to global trade entirely, you are free to act accordingly for yourself, but you are not free, and you it does not give you the right to force that judgement on me through the mechanism of the government, in the form of a tariff. That act is an abject violation of individual rights, and the opposite or what made this country great. Bottom line, if I identify a value in buying something from someone in China, you have absolutely no right to force me to act otherwise. Maybe I’m right in my assessment, and maybe I’m wrong, but the consequences will be mine and mine alone.
That is the essence of a free, and thereby great country.
On a related note, the trade deficit does not effect the national debt. Government gets money through taxation, and it spends more than it takes in, so it borrows to do that. Adding up that governmental budget deficit over time is where the national debt comes from.
The trade deficit is the number which measures the net import/export cash flow which occurs over America’s borders. It does not indicate how much we lose, or at how much of a loss we are. In fact, it indicates the exact opposite; the number reflected in the trade deficit if the minimum amount we gained in trade. For example, if I buy something on eBay from China for $1, that will sho up in the trade deficit at -$1. The item I bought, however, is worth far more to me than $1, that’s why I went through the trouble of buying it, and waiting 2 weeks to get it. The same goes for the rest of the transactions in the trade deficit. Just because the money crosses an international border doesn’t mean the government now country it as debt, and it doesn’t make the transaction any less valuable to me. Think of it this way: I have a trade deficit with my grocery store. Am I getting ripped off because they haven’t bought my services in an equal amount? Would I have been better off if I had gone through the trouble of growing the stuff myself? Or paying a huge premium to have Americans grow it instead? Certainly not, I’d have been worse off in every one of those alternative instances, and yet, this is what the party of “principle” and “free market Capitalism” advocate for.
Besides, the thrust of my point wasn’t to disagree with tariffs, even though they don’t make any sense. My point was that this “leader” walks around calling himself a free market capitalist, while imposing whatever brand of controls on the economy — and us — in complete contradiction with the principles of free market Capitalism. That, is totally inexcusable, and has caused decades worth of ideological damage to the country as it is. I can only hope he gets canned for some Socialist in the next election. Worse as the economy may be under them, at least people won’t be blaming Capitalism for it.
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