Shanker Singham appears on Channel 4 News
In the interview Shanker argues that the architect of free trade, Richard Cobden talked about a market price for bread. He didn’t want the price of bread to go down to ever-decreasing amounts.
A tariff increases the price of the product beyond where the market price would ultimately be. In cases where countries are distorting their markets, by artificially reducing the costs of their producers, you would want a discipline in place and we have that in place – such as trade remedy laws.
Tariffs should be unilaterally cut in things we don’t produce and things that we are not competitive in.
Watch the full interview here.