If the US suddenly flipped and adopted the classroom suggested completely open and free trade with all countries, what would happen? I know the biggest ramifications are geopolitical, as lots of the benefit to tariffs politically can be seen as not wanting to depend on an enemy for a resource.
I’m wondering if there is a way that countries could specialize more, causing more reliability on each other, thus promoting peace, kind of in a the way Taiwan has created their “Silicon Shield”, but obviously a bit different. I know this is a pipe dream, but I’m mostly curious if this is an outcome to push towards, even if it were to just be more open trade or not.
Bonus points if you can talk about how subsidies (or the abandonment of them) might fit into this.
What would happen if the US adopted completely free trade?
byu/Mr_ducks05 inAskEconomics
Posted by Mr_ducks05