According to economists like Adam Smith, who benefits from free trade?

Question

According to economists like Adam Smith, who benefits from free trade?

Answer 1

in exporting countries: consumers are worse off and producers are better off, but the producers' gains are more than the consumers' losses so the country is better off

in importing countries: consumers are better off and producers are worse off, but the consumers' gains are more than the producers' losses so the country is better off

overall: free trade raises well being of country as a whole

Answer 2

Smith believed that while human motives are often selfishness and greed, the competition in the free market would tend to benefit society as a whole by keeping prices low, while still building in an incentive for a wide variety of goods and services. Nevertheless, he was wary of businessmen and argued against the formation of monopolies.