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Is Free Trade Worth the Cost?

One side says free trade is necessary for economic growth. One side says it hurts the most vulnerable Americans. And research shows both … are kinda right? Let’s consider the costs and the benefits of trade. In the last 70 years or so, the world has seen an explosion in international trade. And during that same time the world has become about 10 times wealthier. So, free trade is good for everyone, right? Well … kinda. Because here’s the thing: Many economists who are so quick to say that trade is good for the country as a whole will also tell you that not everyone benefits. More foreign competition can drive American companies out of business and cost workers their jobs. So why stick with trade if it victimizes Americans? Because the one thing that may be worse for vulnerable Americans than free trade … is the lack of free trade. Research has found not only that restricting trade drives up prices for Americans, but that it drives them up the most for the least well-off Americans. In fact, it’s estimated that the poorest Americans lose more than five times as much of their income to tariffs as the wealthiest ones. 📝 SCRIPT 🎁 BONUS CONTENT 📚 SOURCES AND MORE at https://www.kiteandkeymedia.com The world is complicated … but the explanations don’t have to be. ⚡ New videos every Wednesday. SUBSCRIBE to Kite & Key on YouTube: https://bit.ly/YouTubeKiteAndKey FOLLOW Kite & Key on your favorite social channel:   / kiteandkeymedia     / kiteandkeymedia     / kiteandkeymedia     / kite-and-key-media   Sound | Premium Beat: "Lucid Grove” Mark Walloch, “Whiskey And Leather” Mark Walloch, “You Can’t Catch Me” Stoney Waters // Artlist: “Penumbra” EFGR, SFX Library // Prosound Cloud Library // FreeSFX Library  Footage | Trade and Financial Studies, Federal Reserve Board // The Tax Foundation // The New York Times // The Wall Street Journal // The World Bank // The Progressive Policy Institute: Ed Gresser // Times Herald // Chicago Booth // CEPR: Katheryn N. Russ, Jay Shambaugh, Jason Furman © voxEU.org // The Council of the Federation of the Federal Assembly of the Russian Federation // Twitter: ImGeraldMan, Ben_rosen, Medicalsocialw1 // Getty: Evening Standard / Stringer, Jim Watson / Contributor, NurPhoto / Contributor, Joe Sohm/Visions of America / Contributor, Uschools, Pongnathee Kluaythong, Schleicher.hannes, Alexander Spatari, Klyaksun, Luoman, Bruce Bennett / Staff, Sutulastock // Adobe Stock: FourLeafLover, Real Vector, Zhu Difeng, Sidneydealmeida, Valmedia, FiledIMAGE, Justinboat29, Rawpixel.com, Bit24, Merrillie, Stockphoto Mania, Alex Stemmers, Diego Gomez, David Davis, Tinnakorn, Noppasin, StevertS, Unclesam, Kate Smith, Neirfy, Jacques Durocher, Karamysh, Markobe, Hristo Shanov, lchumpitaz, ZhouEka, Escapejaja, Viperagp, Africa Studio, Mikevanschoonderwalt, Gene, TravelPOIs, Pascale Gueret, Sensvector // Flickr: Lyza // Unsplash: Lance Anderson, Kenny Eliason, Joshua Lawrence, Maria Lupan, Logan Weaver // Pexels: Thirdman, Antoni Shkraba, Rodnae Productions // Storyblocks: Hasky2, Defstock, Mdlabdesign, Berkerdag, Vivekfx, Rivetstudio, SlicedBread, MikeFly, iNeedFx, THmotion // Pixabay: Byrev // Vecteezy: Aakar_studio, Adamlapunik, Khaii Nauy, Soosjozsef, A3701027651835, Ignatius Sut, Chaiwut Sridara, Vk.studio // Starr Environmental: Forest & Kim Starr // Ecole Polytechnique Université Paris-Saclay // Saahil Vats // Lionslayer // Kirez // Torty3 // Wang Tao // Andyhi18 // 1001 Free Downloade: Thekua // CITED SOURCES AND NEWS OUTLETS ARE NOT AFFILIATED WITH AND HAVE NOT ENDORSED OR SPONSORED ANY PORTION OF THIS PRODUCTION.