Earlier today, in an open letter to President Donald Trump, we joined with more than 150 economists from universities, think tanks, and businesses across the country to urge the president to confront one of the most damaging and least-discussed obstacles to global prosperity: international anti-competitive market distortions (ACMDs).
For decades, trade debates have been dominated by tariffs—the visible, headline-grabbing taxes that nations impose on imports and, occasionally, on exports. Tariffs are easy to measure. Yet they are only the tip of the iceberg. Beneath them lies a complex and far more damaging set of distortions that quietly undermine competition and economic growth: discriminatory regulations, state subsidies, and other “protections” that favor domestic champions over foreign competitors.
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