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Trump Is Giving Protectionism a Bad Name

While it might not seem like it now, President Donald Trump is a gift to free market–oriented economists and policymakers. His clumsy approach to protectionism has ignited a trade war that inevitably will harm the US economy. When the pendulum inexorably swings the other way after the Trump fiasco, free-trade ideology will return with a vengeance. This is a potential tragedy for left-leaning policy analysts who have long been concerned about the excesses of neoliberalism and argued for a more measured use of tariffs to foster local economic development. As such, it critical that we distinguish between Trump’s right-wing nationalist embrace of tariffs and the more nuanced use of this tool to support infant industries. As a development geographer and an Africanist scholar, I have long been critical of unfettered free trade because of its deleterious economic impacts on African countries. At the behest of the World Bank and the International Monetary Fund, the majority of African countries were essentially forced, because of conditional loan and debt-refinancing requirements, to undergo free market– oriented economic reforms from the early 1980s through the mid-2000s. One by one, these countries reduced tariff barriers, eliminated subsidies, cut back on government expenditures, and emphasized commodity…

Source: Truth Out | Trump Is Giving Protectionism a Bad Name

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Trump Is Giving Protectionism a Bad Name

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