Comment: Unilateral Free Trade

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Unilateral Free Trade

The best trade policy is unilateral free trade. Even if all the other countries keep their tarrifs, the tarrif free country is still benefiting.

My understanding is that Ron Paul's dislike of these multilateral trade agreements isn't that they are multilateral per se, so much as that in order to get so many countries to agree to it, 99.9% of the time many concessions have to be made. He doesn't like those concessions nor the protectionism that gets inserted in the bills. It's been a while since I read his book, but I'm pretty sure I remember him supporting unilateral free trade. Either way, unilateral free trade seems to be the concensus for free market economists from the Austrian, Chicago, and Neoclassical schools.