American Compass has published a new collection of essays titled “On Balance,” written by policy advisor Mark A. DiPlacido, which presents an alternative framework for U.S. trade policy. The collection contends that the longstanding emphasis on free trade has led to ongoing trade and capital imbalances, negatively affecting fiscal stability, economic security, and prosperity for American workers.
According to the organization, the essays analyze how U.S. trade policy became centered on free trade ideology at the expense of national interests. DiPlacido recommends moving away from broad free trade policies and instead adopting a principle focused on achieving balanced outcomes in international commerce.
The four main essays in the collection address several key issues:
– “Ideology Over Interest” discusses how U.S. trade policy came to prioritize ideological commitments over national economic interests.
– “The Dollar Dilemma” argues that achieving balanced trade requires a fairly valued dollar and suggests reforms to international monetary policy.
– “Shifting Out of Neutral” states that fiscal stability and economic security depend on abandoning neutral rules-based approaches in favor of policies designed for balance.
– “A Results-Based Order” describes how the United States could lead a coalition of market-oriented nations dedicated to reciprocal and balanced trading relationships.
An appendix is also included, offering an accessible guide to various trade barriers and market distortions.
The full collection is available online.
