Thread by @ClaireBerlinski

Both American political parties are now committed to protectionism. No significant political constituency favors free trade. Protectionism is not a better idea because Biden endorses it. Le Monde rightly points this out-- lemonde.fr/idees/article/…

while overlooking the even greater cost to EU taxpayers of its own protectionism. (Although in fairness, they do link the document that spells it out plainly.)

My own views on protectionism have changed as a result of the pandemic; I now believe some industries need to be protected--medical supplies and pharmaceuticals, for example. We need to repatriate industries such that shortfalls can be used as a boot on our neck.

But the economic case for free trade otherwise remains as strong as it ever was.