Trade Wars Loom as Congress and President Battle Over Protectionism
The article explores trade protection in the United States. It covers the basics of trade, the benefits of free trade, and the reasons for trade protection. It looks at the roles of different institutions like Congress, the President, and the bureaucracy in trade decisions. The article also explains how trade policies are made in the legislative and executive branches. It discusses fair trade laws and regional trade politics. Finally, it delves into the shift from managed trade to free trade, focusing on the political economy of the General Agreement on Tariffs and Trade (GATT) and the need for constitutional reform to support free trade.