Free Trade and Dropping Tariffs

Published: December 23, 2019

Milton Friedman describes why tariffs are bad for consumers but good for special interests. Tariffs are another way of the government telling you that you must buy more expensive products, even if cheaper ones are available. Free trade, on the other hand, means being able to buy goods in the cheapest market.

Discussion Questions:

1. Why are tariffs supported in the first place?
2. What does it mean to say tariffs result in the government forcing consumers to buy more expensive goods?
    

Additional Resources:

• Watch “The Tyranny of Control” with Milton Friedman, available here.
• Watch “The Benefits of International Trade” with John Taylor, available here.
• Read “The Case for Free Trade” by Milton and Rose Friedman, available here.