Free Trade: A Moral Imperative

The Trump administration is anything but the paragon of free trade. And while their economic arguments fall short, an even stronger case can be made that protectionist policies like tariffs are fundamentally unjust.

The following article was originally published by the Mises Institute. The opinions expressed do not necessarily reflect those of Peter Schiff or SchiffGold.

As public discourse on tariffs recedes, it is crucial to address an aspect of free trade and tariff policy that received less attention during recent debates: the moral implications of imposing tariffs. While economic theories often dominate discussions, how tariff policy conflicts with the United States founding values are equally significant. Milton Friedman famously stated: “The right course of action for the United States would be unilaterally to get rid of its restrictions and say to the world, come and sell your goods here. We are delighted to sell to you.”

Free trade represents an intrinsic American virtue. A significant part of America’s quest for independence stemmed from its desire for free trade. Britain operated under a mercantilist philosophy, tightly regulating trade to ensure profits flowed back to the Crown. The Navigation Acts compelled colonial goods to be transported exclusively on British ships and controlled by British merchants. The Sugar Act of 1764 and the Townshend Acts of 1767 further restricted the colonists by limiting their ability to trade with other countries. The Tea Act—culminating in the infamous Boston Tea Party—epitomized these intrusive policies. These measures curtailed the colonists’ economic freedoms through taxation—primarily via tariffs—without representation. Such actions impinged on individual liberties and helped ignite the revolutionary spirit, setting the stage for the Declaration of Independence.…