This week’s IGM Economic Experts Panel statement:
Refusing to liberalize trade unless partner countries adopt new labor or environmental rules is a bad policy, because even if the new standards would reduce distortions on some dimensions, such a policy involves threatening to maintain large distortions in the form of restricted trade.
Keyword: protectionism
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This week’s IGM Economic Experts Panel statements:
A: Ethanol content requirements and protectionism against imported ethanol (which includes fuel from sugarcane) raise food prices without significantly reducing carbon-dioxide emissions.
B: A direct disincentive to emit carbon-dioxide, for example through a carbon tax or an emissions permit market, is more efficient than requiring the use of corn-based ethanol fuels.
This week’s IGM Economic Experts Panel statement:
The current trade barriers in the U.S. sugar industry raise the profits of sugar producers and make the typical U.S. consumer pay more for sugar and goods that use sugar as an input.
This week's IGM Economic Experts Panel statements:
A) Trade with China makes most Americans better off because, among other advantages, they can buy goods that are made or assembled more cheaply in China.
B) Some Americans who work in the production of competing goods, such as clothing and furniture, are made worse off by trade with China.
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