Category: International trade

By Louis ZhuIllustration by Keo Morakod Ung In April 2025, the Trump administration announced a sweeping set of “reciprocal tariffs” on dozens of trade partners, igniting heated debate and steep market turbulence. Officials framed these moves as an objective remedy for longstanding U.S. trade deficits, claiming they would close the gap between imports and exports…

By Jun-Seo KimIllustration by Keo Morakod Ung The concept of free trade is central to the global economic system. It is often hailed as a mechanism that drives economic growth, encourages competition, and promotes efficient allocation of resources by allowing goods, services, and capital to move freely across borders.  However, the argument supporting free trade…