Why Donald Trump and Bernie Sanders Are Half Right About Trade

In my view, a reconceiving of American trade policy for the twentieth century is not just one of the most important issues facing the next administration, but key to virtually all others. The reason is no mystery: we can’t have a dynamic and resilient economy without vigorous trade when the 90% of the global population who live outside of our borders are consuming, investing, inventing. And we cannot financially afford the kind of national security policy we need – be it combating terrorism at home or standing up to Russia and China abroad – without a strong economy. So the key question becomes, what is the right kind of trade policy for the U.S.?