In the landscape of international trade, the metaphorical image of a “small yard with a high fence” has come to epitomize the protectionist tendencies of nations, particularly in the ongoing rivalry between the United States and China. Under the banner of “national security,” the US has erected barriers, both literal and figurative, in an attempt to shield its industries from perceived threats emanating from Chinese competition. However, this strategy, while appealing in theory, raises critical questions about its long-term viability and the unintended consequences it may engender.
At the heart of this debate lies the notion of American exceptionalism and the desire to reclaim past glories encapsulated in the slogan “Make America Great Again.” Advocates of protectionism argue that by insulating domestic industries from foreign competition, particularly from China, the…
