its Republican predecessors, the North American Free Trade Agreement (NAFTA) and the larger General Agreement on Tariffs and Trade (GATT). Talk of an interna- tional trade war, the likes of which we have not seen since the 1930s, was thick in the

more than 200 years ago Adam Smith and later elaborated by David Ricardo. It says, with blinding simplicity, that the best way for all to prosper is for each region to produce the goods it can manufacture most cheaply and efficiently and to trade them w...