This is the Cato Daily Podcast for Monday, March 18th, 2019. I'm Caleb Brown.

Trade policy remains a key instrument of American power and wealth, but it doesn't have to stay that way.

In his new book, Trade and American Leadership, Craig Van Grastec discusses the declining share

of global trade held by the U. while the US simultaneously depends more on its

global trading partners.

We spoke in February.

If you were to look at the leadership of the Democratic Party

and the Republican Party, do you see sort of a sign,

cosine movement with respect to feelings about trade because right now we're at a time where

Democrats support free trade in very high numbers and Republicans are just the opposite and 10 years ago people

would have thought you were crazy for suggesting that that would be true

today. Well we really have different groups, different sets. When you say

leadership, the leadership with the Republican Party is really divided at this

point. You've got Mr. Trump and those who have gotten wedded to him and others for whom this is one of the main issues that really divide them from the president and the question being,

you know, how much longer does Mr. Trump remain in office and how far

does he manage to bring the rest of his party along with him?

But my suspicion is that if he is a one-term president, his impact on that party's position will be minimal.

But if he is a two-term president, I think all bets are off.

In the Democrats, it's a much more diverse issue.

It's not just are you attached to one person or not attached to one person.

You're absolutely right that in the base, if you look at what the positions are held by people who self-identifies Democrats in public opinion polling,

there not only is a growing support for trade in that group,

...