Understanding Path Dependence in Trade Policy

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Tariffs are the favorite tool of our current president, but there are lots of other ways that governments insert themselves into the free exchange of goods and services. Some of these trade barriers are so insidious and have been going on for so long that it may surprise you that they even exist. 

We bring you the classic story of what happens when you try to protect an American industry and end up hurting another American industry. Well intentioned plans turn into trade barriers that make our lives more expensive. 

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The series is hosted by Robert Smith and produced by Eric Mennel. Our project manager is Devin Mellor. This episode was edited by Planet Money Executive Producer Alex Goldmark and fact-checked by Emily Crawford.

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