In other words, the opportunity costs exceed the benefits. And opportunity costs are the value of goods and services that have to be sacrificed in order for other goods and services to be produced. Hence the real cost of anything is that which has to be sacrificed to produce it. There is not a single economics textbook that does not explain these concepts in detail, which forces me to conclude that Stratchan has not even bothered to consult a basic text. Yet he has the nerve to lecture others on economic theory.
Free trade means no barriers to imports or exports between nations.
Now total free trade means exactly that. In plain English, all trade exists because costs differ. That's why Australian coal is cheaper than Korean or German coal. If these countries followed Stratchan's advice they would shut out all coal exporters, especially Australian ones. Imagine what that would do to our mining industry.