Fair Trade = Protectionism
From an article by George Mason economist Walter Williams:
"Some people justify their calls for protectionism by claiming that they're for free trade but fair trade. That's nonsense. Think about it: When I purchased my Lexus from a Japanese producer, through an intermediary, I received what I wanted. The Japanese producer received what he wanted. In my book, that's a fair trade.
Of course, an American auto producer, from whom I didn't purchase my car, might whine that it was unfair. He would like Congress to impose import tariffs and quotas to make Japanese-produced cars less attractive and available in the hopes that I'd buy an American-produced car. In my book, that would be unfair."
MP: Based on past experience, whenever somebody calls for "fair trade," it's a sure bet that what they really want is some kind of protectionism for an inefficient domestic producer or industry.