Paulson on Trade

In a new speech, the Treasury Secretary defends free trade and, avoiding the mercantilist rhetoric all too common in Washington, actually says nice things about buying goods from abroad:

trade helps Americans provide for their families. When special interests seek protection in the name of low-wage workers, we should acknowledge that limitations on imports do not benefit the vast majority of Americans. They deny people the freedom to choose from a broader array of goods and services, and impose a cruel tax on people who rely on low prices to stretch their family budgets. The cost of protectionism falls most heavily on those who are least able to afford it – the poor and the elderly.