Free Trade Agreements
Are free trade agreements a good policy for nations? Given that there are 200 free trade agreements in place globally, there are clearly benefits, but what are the negatives? This paper explores the positives and negatives of free trade agreements, and this paper delves into the NAFTA pact between the U.S., Canada, and Mexico, for the upsides and downsides of that agreement.
What are Free Trade Agreements and why does the U.S. engage in FTAs?
International Trade Administration (ITA) explains on its website that Free Trade Agreements (FTAs) have proved to be "…one of the best ways to open up foreign markets to U.S. exporters" (www.trade.gov). Trade agreements "…reduce barriers" to United States exports, they "protect U.S. interests," and they "enhance the rule of law" with the country that is partnering with the U.S. (www.trade.gov).
American companies can export their products less expensively when trade barriers are...
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