US-Japan Trade Deal Shows How Protectionism Can Shoot Itself in the Foot

Whenever governments get in the way of anything, expect serious side effects. Instead of properly taking care of ensuring a level playing field for all its citizens and companies, they tend to make things harder for everyone. Just check Donald Trump's "reciprocal tariffs" and trade deals with the countries that would otherwise be punished by them. The recent agreement with Japan was celebrated, but made American automakers furious. (continue reading...)