"In American political and business circles, free trade has long been the favored mantra. Investors, executives, and most politicians speak of it with near-religious conviction. According to Google Trends, Americans have searched for "free trade" roughly twice as often as for "fair trade" since 2004. Mentions of fair or reciprocal trade, by contrast, are far rarer-though Donald Trump managed to raise their profile over the past decade."
"This imbalance in attention is not just a matter of economic theory. It reflects the political arithmetic that makes free trade a perennial favorite and fair trade a hard sell in Washington. This arithmetic follows an old Chinese proverb: "It is better to break one finger than to injure ten" (伤其十指，不如断其一指). But doing this can land the American economy in a ditch."
"But tariffs come with visible costs on the other hand. Importers pay first, then try-often unsuccessfully-to pass them along to consumers. Exporters and original equipment manufacturers absorb another share to keep their business. Eventually, the burden ripples through currencies, supply chains, and countries. As such, tariffs are not exactly a tax on consumers in the conventional sense, even though consumers may and frequently do end up paying higher prices."
The U.S. Supreme Court is weighing executive authority on tariffs while the tradeoffs of free trade remain central. Free trade enjoys broad political and business support, with searches for "free trade" roughly twice those for "fair trade" since 2004. Fair or reciprocal trade receives far less attention despite occasional elevation. Political incentives favor free trade because concentrated beneficiaries—voters, donors, and firms—outnumber those favoring tariffs. Tariffs can aid domestic producers, reopen plants, and preserve well‑paying manufacturing jobs. Tariffs impose visible costs: importers and producers absorb or pass along higher costs, exporters and supply chains suffer, and consumers often pay higher prices.
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