“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.
Steel Tariffs Steal Your Gasoline Savings
President Trump’s pro-energy policies are on a collision course with his protectionist policies. Let’s hope, for the sake of the economy and energy independence, his energy policies prevail.
SOTU: While Democrats Push for Bigger Government, Trump Can Highlight Some Big Achievements
President Trump delivers his first State of the Union address before a divided Congress on Tuesday night, where his priorities to unfetter the private sector, rev up economic engines and enhance national security will starkly contrast Democrats’ increasingly socialist-leaning platform.
As Putin Props Up Maduro, Trump Heats Up U.S. Energy to Undermine Russian Global Mischief
A new round of White House executive actions may be coming to boost the U.S. energy industry against Russia, an ongoing effort that’s hitting Russia’s pocketbook and making it more difficult for Vladimir Putin to use oil and gas as a foreign policy weapon to promote his agenda.
President Trump Gets No Credit for Helping Defund Vladimir Putin
We don't know whether there was any Trump-Putin collusion; but we do know that Trump's energy policies are reducing Russia's revenue and making it harder for Putin to engage in global mischief.
Replacing Unpopular Steel Tariffs With Quotas Is Even Worse for US Energy
If administration officials substitute steel tariffs for quotas, American energy firms would still struggle to secure the parts they need.They could be forced to postpone or cancel many pipeline projects.
Well Whadya Know: Federal Revenue Is Up
The left predicted that the Republican tax cut legislation would lower federal revenue. Surprise! Federal revenue is up.
A Modest Proposal for Solving the U.S.-China Trade Standoff
President Xi Jinping should propose the same deal Trump has offered to other U.S. trading partners.
Production on the Rise
Referring to a possible cutoff of Mideast oil, Merrill Matthews, resident scholar with the Institute for Policy Innovation in Dallas, Texas, said the good news is that the United States has the resources and the ability to fill the gap, and rising crude oil prices could serve as the catalyst to do so.
Associations Say Renegotiated NAFTA Needs All of North America
As word of a tentative new trade pact between the U.S. and Mexico surfaced Monday, several associations urged the White House to keep Canada in the agreement too.
Public Knowledge Pans Post-NAFTA Mexico Trade Agreement
The Institute for Policy Innovation has said it is "critical" that "any revision of NAFTA includes strong, updated protections for IP goods and services."
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