Pros and Cons of Free Trade
Running Head: THE PROS AND CONS OF FREE TRADE 1
The benefits and drawbacks of free-trade Michele Robertson South University
Business 1101 UA Instructor Pamela Adams January 18, 2014
THE PROS AND CONS OF FREE TRADE 2
Introduction
Free trade is an agreement between two or more countries in exchange for goods and/or services without the enforcement of tariffs or duties and at a benefit for each country. Advocates in favor of free trade believe that it gives Americans a better standard of living because of the goods and services received at such low prices. Free trade strengthens the U.S economy, creates jobs, spreads the value of freedom, reinforces the rule of law, and helps under developed countries.(White n.d). Most foreign countries can manufacture goods at lower cost so we pay less for them. Economists of free trade believe that when we sell more of our products overseas, American businesses can employ more people. Opponents who oppose U.S. free trade believe that it has caused many job losses here in the U.S and is not good for the economy. Many jobs overseas can be performed for a fraction of the cost of what American workers earn; so many U.S jobs are outsourced. Opponents also stress the
The benefits and drawbacks of free-trade Michele Robertson South University
Business 1101 UA Instructor Pamela Adams January 18, 2014
THE PROS AND CONS OF FREE TRADE 2
Introduction
Free trade is an agreement between two or more countries in exchange for goods and/or services without the enforcement of tariffs or duties and at a benefit for each country. Advocates in favor of free trade believe that it gives Americans a better standard of living because of the goods and services received at such low prices. Free trade strengthens the U.S economy, creates jobs, spreads the value of freedom, reinforces the rule of law, and helps under developed countries.(White n.d). Most foreign countries can manufacture goods at lower cost so we pay less for them. Economists of free trade believe that when we sell more of our products overseas, American businesses can employ more people. Opponents who oppose U.S. free trade believe that it has caused many job losses here in the U.S and is not good for the economy. Many jobs overseas can be performed for a fraction of the cost of what American workers earn; so many U.S jobs are outsourced. Opponents also stress the
References: Froming, Denise (2000) The Benefits of Free Trade: A Guide For Policymakers. Retrieved 1-14-2014 from http://www.heritage.org/research/reports/2000/08/the-benefits-of-free-trade-a-guide-for%20policymakers from http://usliberals.about.com/od/theeconomyjobs/i/FreeTradeAgmts_2.htm Wikipedia (2014) Republic Steel