Free trade versus protectionism in the freight industry
Trade is central to global economies and getting goods from one place to another, but the limitations on trade change from one government to another.
On this episode of Freightonomics, Zach Strickland and Anthony Smith dive into the differences between free trade and protectionism and how they influence the logistics landscape.
Trade regulations like the Jones Act are supported by the Biden administration; this act in particular is an example of protectionism between United States ports.
Smith says some protectionism can be a drag on economies because it can limit utilization of existing resources instead of flooding the market with those available resources.
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