2016 Postmortem
In reply to the discussion: You can't have economic justice without redistribution. Free trade has helped hundreds of millions [View all]pampango
(24,692 posts)Trade will never be perfectly 'fair' since perfection in any political policy is unachievable but it can be and should be much 'fairer' than it is today.
To me 'fair trade' "is the proper way to set up trade negotiations to protect", not only developing countries, but labor rights, human rights, environmental standards and business regulation standards in all participating countries. (The EU most closely approximates this in modern practice.) That not only makes trade 'fair' but ensures that each country's 99% benefits from both trade between countries but from the domestic economy (which is usually a lot bigger than the trade-related economy) in each country.
High standards on labor rights, human rights, environmental standards and business regulation standards would be enforced objectively and multilaterally, then countries could trade with each other as much or as little as they want using these common high standards. That would be 'fair'.
That should be what we striving for; not Trump's unilaterally-imposed tariffs or other punishments which he contends, without any historical basis, will mean that WE can WIN, WIN, WIN so often that we 'get sick of winning'. (Presumably he believes that other countries will LOSE, LOSE, LOSE yet continue to play the Trump trade game. Or perhaps he knows that they will quickly tire of playing the LOSE, LOSE, LOSE game and react like they did in the 1920's and come up with their own unilaterally-imposed tariffs and other punishments. That did not end well in the '20's and would not end well now either.)