“It is the maxim of every prudent master of a family, never to attempt to make at home what it will cost him more to make than to buy . . . . If a foreign country can supply us with a commodity cheaper than we ourselves can make it, better buy it of them with some part of the produce of our own industry, employed in a way in which we have some advantage.”
-Adam Smith, An Inquiry into the Nature and Causes of the Wealth of Nations, 1776
IPI believes the United States should aggressively pursue trade liberalization, which includes a willingness to lower our own trade barriers even when other countries do not respond reciprocally. Ideally, those efforts include multilateral agreements, such as the Trans-Pacific Partnership, but bilateral agreements can also promote freer trade.
American consumers bear the brunt of the protectionist impulse through higher prices on consumer goods, and American workers are best served when liberalized trade policies facilitate the export of American products throughout the world. At a time when protectionist sentiments are growing, it is important to assert that the U.S. and its workers have nothing to fear from trade, and everything to gain.
With Cantor Gone, GOP Would Be Wise To Let Ex-Im Expire
The most significant issue affected by Cantor’s loss is one that has become a symbol for the dispute between pro-business and pro-market conservatives, writes Tom Giovanetti in the Dallas Morning News.
New Publication: Foreign Sugar Policies Causing Global Market Distortions, Threatening U.S. Producers, Taxpayers
If market-distorting actions from four key nations are allowed to continue, the otherwise competitive U.S. sugar industry is at risk of being obliterated and the prices to U.S. consumers will be at the mercy of foreign governments and supplies.
Seeking a Global Solution in Sugar Trade Policy
Achieving a reasonably free global market in sugar through trade agreements should be the goal of U.S. policy, rather than allowing otherwise competitive domestic producers to be driven out of business through the subsidies and dumping practices of countries like Mexico, India, Brazil and Thailand, whose sugar supports dwarf those of the United States.
Obama can help fill the jobs during energy boom
Thousands of high-paying, blue-collar jobs are begging for skilled workers thanks to the U.S. energy boom. If President Obama really wants to be helpful, there are a couple of things he could do.
IP Intensive Industries--the Majority of U.S. Exports
Power point presentation by Tom Giovanetti at IPI's 9th Annual World Intellectual Property Day Forum.
Time to Exit the Export-Import Bank
The Export-Import Bank is a crony capitalist institution that distorts our export markets with a backstop of taxpayer guarantees. Congress should phase out the Export-Import Bank and eliminate the potential for yet another taxpayer bailout.
Texas Is Top State for International Trade, but It Could Be Even Better
New international trade agreements would lower tariffs and establish substantially more robust commercial channels with countries whose markets offer new opportunities for Texas companies, farmers and workers.
The Case for Permitting Crude Oil Exports
Since the 1970s, U.S. law has banned crude oil exports. But with new drilling techniques dramatically increasing U.S. oil production and the willingness of unfriendly countries to use oil and natural gas supplies as a foreign policy hammer, it's time to repeal that export ban.
U.S. IPR Protection Insistence May Derail TPP Talks, Critics Say
Strong protection of IPR is critical to boosting U.S. exports through its free-trade agreements. Speaking at a Cato trade conference, panelist Tom Giovanetti stated, "The largest silo of U.S. exports are the core IP industries."
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