Politically difficult

What are the pros and cons of the multilateral approach to free trade? One
advantage is that the multilateral approach has the potential to result in freertrade than a unilateral approach because it can reduce trade restrictions abroad as well as at home. If international negotiations fail, however, the result could
be more restricted trade than under a unilateral approach.
In addition, the multilateral approach may have a political advantage. In
most markets, producers are fewer and better organized than consumers—and
thus wield greater political influence. Reducing the Isolandian tariff on steel, for
example, may be politically difficult if considered by itself. The steel companies
would oppose free trade, and the users of steel who would benefit are so numerous
that organizing their support would be difficult. Yet suppose that
Neighborland promises to reduce its tariff on wheat at the same time that
Isoland reduces its tariff on steel. In this case, the Isolandian wheat farmers,
who are also politically powerful, would back the agreement. Thus, the multilateral
approach to free trade can sometimes win political support when a unilateral
reduction cannot.