Non-Trade Representative U.S. Trade Representative Katherine Tai is a lawyer by training, not an economist – and it shows. She is blaming globalization and the competition that entails for forcing “harmful” consolidation of businesses in the U.S. and abroad. Economists would not see competition as harmful, nor even most consolidations. Her pairing of international competition and domestic antitrust policy is a dangerous direction. It implies more protectionism to enable breaking apart conglomerates. If that is the policy goal, economists know this will lead to a future of higher prices and a lower standard of living. Her title should be changed to U.S. Non-Trade Representative. However, one must give credit to the WTO. It...

TAGS – North America, Macroeconomics