U.S. President-elect Donald Trump says he wants to make America great again. But his economic policies are likely to have the opposite effect.
His attack on international trade, and especially his intention to withdraw from the Trans-Pacific Partnership, will allow China to seize the economic lead in Asia.
Trade is good for the United States as well as other nations. Not just Americans who sell products and services abroad. But Americans who buy inexpensive products and services from abroad. Trade offers especially large benefits for lower-income households, whose members gain the most from lower prices on basic goods, which act as an income boost.