True free trade means no trade distortion.  Trade distortion comes from cheating.  Cheating includes currency manipulation, border adjustable taxes, government subsidies, government controlled foreign investment in our company, cheap unsafe goods sales, and many other tactics.

Henry Paulson is against true free trade.  He favors protecting cheaters.  Here is the core of his messaging.

“There was a concern that given what’s going on in the global economy and the emerging protectionist sentiment in many parts of the world,” he said, “how dangerous it is to take a unilateral punitive action that could lead to a trade war or that would be unsettling to the markets.”

The context of this quote is to oppose pending bills intended to neutralize China's currency manipulation.  Let China's currency float free, and we're ok.  If they take government action to devalue it for 12 years, we should take government action to neutralize their government action. 

Our economy cannot survive, intact, the huge effects of these unfair trade strategies more than a few years.  The trend lines are striking.  We need some sanity.

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