Trading Away Free Trade

Trading Away Free Trade

Smith Op-Ed in Liberty
October 31, 1994

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The General Agreement on Tariffs and Trade has lowered the world’s tariff barriers fairly well.  Its proponents—including the Cato Institute and other libertarian groups—argue that the latest modification to GATT, the World Trade Organization, will advance free trade even further.  So does the <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Clinton administration, which negotiated the final agreement, and so have most large businesses.  It is opposed by a handful of populists like Ralph Nader and Pat Buchanan, with environmental and labor groups withholding support until further “protections” are added.