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Today, supporters of free trade defend it as the policy that best represents the public interest. Yet in the early years of the nation, high tariffs were widely accepted as best for the nation even though they restricted trade. What are the arguments in favor of free trade versus restrictions on trade? Do the advocates of restrictions on free trade always favor narrow special interests or do they favor the greater public interest? Does President Trump's use of tariffs, for example, against Chinese steel, help or hurt America's interests?

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Answer:

Free trade enables countries to obtain goods at a cheaper price. This leads to a rise in the standard of living of people of the world. Thus, free trade leads ...

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