We shouldn't "trade" for any product that we already make or are able to make if ...it is cheaper. The only reason it's cheaper is that the labor costs in the foreign country are cheaper than ours. If we allow this kind of "trade", we lose jobs. Without jobs, economies fail. That's what we are witnessing now in the US.
We can still import products if we really want to, but only under 2 conditions:
1. Slap a tariff on them to the point where the price equals that of a similar US product
2. Only do this if they open their markets to an equal number of our products on their country
Secondly, never ever "trade" for services. This is always a loser for the US because labor costs here are highest in the world.
That's it in a nutshell - fair trade. That's what we've done except for the last 30 years or so and that's how every other nation in the world does it.
The reason the economy is in the tank is that we have no jobs since we've moved to free trade. It took a few decades to feel the full effect, but now we feel it very deeply and its going to get a lot worse. Unless we get out of these bad deals, america is toast - permanently
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