Trade: Why it matters

The Chinese do not allow free trade, that's why the supposed benefits of trading with them have not materialised.

If and when the globe heads to another mass state of protectionism is another sign that the world is stepping towards another world war but I guess Trump and others can't see what is taught in history.

"Imports cut prices for consumers..."

Especially for consumers who have been laid off in industries that once produced the goods now being imported from China. Guess what -- The "Wallmart effect", aka, "the race to the bottom" -- is actually really bad for an economy.

"...and exposure to foreign competition makes American firms and the overall U.S. economy more efficient. "

Absolutely. Look what happened to Detroit after the flood of Japanese imports arrived. The Big Three got so "efficient" (LOL) as they saw their share in their own market spiral downward. Sorry, this was poison for the US economy that it's probably never going to recover from.