Conversations with Tyler Doug Irwin on US Trade Policy
12 snips
Nov 29, 2017 
Douglas A. Irwin, a Dartmouth economist and author of Clashing over Commerce, explores the turbulent history of U.S. trade policy. He tackles tariffs, the Boston Tea Party, Hamilton, NAFTA, Smoot-Hawley, and Brexit. The conversation turns to China, the “China shock,” WTO gridlock, trade and peace, Trump, comparative advantage, and the future of globalization.
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Tax Tourism Damage Instead Of Banning Visitors
- When tourism damages infrastructure or heritage, tax the resulting externality rather than exclude foreign visitors.
- A tax applying equally to domestic and foreign tourists addresses overuse without becoming protectionist.
Free Trade Is Not Laissez-Faire
- Free trade does not require laissez-faire; domestic policies can address jobs, tourism externalities, or security more directly than tariffs.
- Trade agreements increasingly target regulatory protectionism, though shared standards can also burden developing countries.
Why Developing Countries Want ISDS
- Douglas Irwin is skeptical of investor-state arbitration because it distracts from reducing trade barriers and regulatory obstacles.
- Developing countries nevertheless request ISDS as a commitment device that reassures foreign investors their governments will treat them fairly.
