Momentum seems to be gaining this week on the idea of a Transatlantic Free Trade Area (TAFTA). But if the joint White House-European Union committee exploring the topic is to be of any value, it needs to examine a key corollary to free trade -- labor mobility.
There's a buzz in both Berlin and D.C. these days for free trade as a potential path back to growth for ailing economies. Indeed, a Transatlantic Free Trade area would be a very good idea -- but a highly regulated trade area would not deliver the benefits promised.
America doesn't need to cut itself off from the world entirely, but it does need to get wise to the fact that the rest of the world views trade (correctly) as an arena of national rivalry, and start playing the game.