We all read about free trade, but do we truly understand its real world effects? So many of our possessions, from the clothes we wear to the foods we eat, come to us as imports. Is free trade the solution to high prices, or is the real cost more than we bargained for?
Senior Fellow, Hudson Institute
As imports have risen, unemployment in the United States has fallen. Our unemployment rate, at 5%, is lower than those of the 1970s, 1980s, and 1990s. Yet some people do lose their jobs due to trade, and the government provides two years of training, payments, and health insurance in a program called Trade Adjustment Assistance, described below. It’s vital that people displaced by trade have some avenues for retraining, and this program provides that.
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