Trade has long been the great engine of growth.
Its growth has been built on the exchange of goods and services, with all sorts of benefits for consumers, businesses and the nation at large.
Today, the trade deficit is projected to be the largest in history, and a third of its growth has come from imports, the most recent data shows.
Yet the debate over the merits of trade and its effect on the economy has raged for decades.
The Economist’s Michael Gove argues that it’s time to rethink how trade and economics are understood.
What’s in it for the economy?
The Economist explains how trade works.