Recently, House Ways and Means Committee Chairman Kevin Brady (R-TX) gave a speech arguing that “free trade” really means the “freedom to trade.” Though it did not mention imports or the TPP specifically, it provides a direct defense of lowering U.S. import taxes for the benefit of American businesses and families.
According to Brady:
Free trade isn’t about China, or Mexico, or Britain. It’s about America – and guaranteeing Americans their economic freedom.
This is protecting our freedom against those who would tell you which smart phone you can buy, what car you can drive, what groceries you can choose… and at what price.
That last part is key because artificially raising the price of foreign goods is exactly what tariffs do. In 2015 alone, the United States collected about $6 billion in tariffs on imports from TPP countries. By eliminating those tariffs – as much as half of them in year one of implementation – the TPP would protect American businesses and families economic freedom.
Brady continued that free trade is not just about economic freedom, but also economic power, since it limits the ability of Washington, special interests, industry and unions to determine what is best for everyday Americans:
If you think about it, the freedom to trade is the most anti-establishment power Americans enjoy because daily it tells politicians and special interests to take a hike – we, the American consumer, will buy what’s good for our family or business at the price we choose to afford.
Perhaps ironically, Congress must act before American consumers can tell Washington to “take a hike.” Yet simply acknowledging that lower U.S. tariffs increase Americans’ economic freedom and power is important. Congressional passage of the TPP this year would go a long way to promoting such ideals.