'Reciprocity' Not Necessary for Trade to Enrich Beneficiaries

Faced with a protectionist U.S. Administration, the G20 for the first time issued a final statement that included the concept that trade must be “reciprocal.” There are advantages to reciprocity, of course. But the truth is, even if a country reduced trade barriers unilaterally, without any guarantee of reciprocal access for its goods, its people would be better off. The biggest advantage of free trade isn't that it makes it easier for us to export – it is that it makes it easier for us to import.