Peter Morici, economist and business professor at the University of Maryland, told Breitbart News Daily SiriusXM host Stephen K. Bannon that, as it pertains to trade, “Donald Trump at least understands the nature of the problem. The Democrats do not, and the establishment Republicans do not.”
“It’s all about managing globalization. Trade agreements are a tool. Managing immigration is a tool, and we haven’t done that very well,” Morici continued.
The University of Maryland professor was on the broadcast to discuss his recent Breitbart op-ed, “Donald Trump’s Challenge on Trade“:
To win the presidency, Donald Trump must overcome skepticism among many voters about his positions on free trade, immigration and many other issues. On trade, that is hardly an insurmountable task.
Lowering tariffs and other barriers to international commerce better permits businesses and workers to specialize at the activities they do best.
The U.S. electronics industry understands this. It keeps at home product design, software development and sophisticated microprocessors but outsources to Asia simpler components and assembly for items like cell phones and laptop computers.
Americans would get richer if sales of U.S. products abroad approximately equaled imports, because workers in exporting industries are nearly 11 percent more productive than those competing with imports.
Sadly, the trade deals we have signed—ranging from the comprehensive agreements administered by the World Trade Organization to bilateral pacts like the 2012 free trade agreement with Korea—have not worked out that way.
Breitbart News Daily airs on SiriusXM Patriot 125 weekdays from 6:00 a.m. to 9:00 a.m. Eastern.