"Like the president he now serves, Anton doesn't understand how the global trading order actually works. Trade agreements are long and complicated today because they are no longer primarily concerned with reducing tariffs (which are already quite low). Instead, contemporary trade agreements are mostly about harmonizing labor, regulatory, environmental, and copyright standards across many different societies, precisely for the purpose of creating fairer competition between states. Agreements of this kind are very much in America's interest, because otherwise U.S. workers would have to compete with foreign industries where labor and environmental standards are much lower than they are in the United States."
Forest L. Reinhardt is the John D. Black Professor of Business Administration at Harvard Business School. He heads HBS's Business, Government, and the International Economy Unit, a group of fifteen faculty from various academic disciplines who study and teach about the economic, political, social, and legal environment of businessLast Updated: Jan 6, 2017, 12:57pm