With Trump’s tariff threat, we’re reaping what we have sown: Jack Minz in the Financial Post

Donald Trump is using the threat of a 25 per cent tariff to bludgeon Canada and Mexico into taking action to halt to the flow of fentanyl and illegal immigrants into the U.S. This threat extends an emerging policy trend: it has now become acceptable to discard free trade in favour of trade barriers supporting other political objectives. But we’re reaping what we’ve sown.

It took centuries for the public to accept the idea that free trade is good for a country, a notion that began with two influential British political economists. In 1776, Adam Smith argued that mercantilism (favouring domestic production by restricting imports) leads to monopolies in the domestic market and prevents consumers from buying goods from the cheapest sources. In 1815, David Ricardo explained how the British “Corn Laws,” which protected agriculture, benefited farmers and land-owners but hurt the poor by raising corn and wheat prices. He argued that countries should pursue their comparative advantage by specializing in industries that make the most productive use of their labour. Eventually, in 1846, the Corn Laws were repealed and Britain adopted free trade throughout its empire.