28 March 2012
Free Trade Agreements
Should America have free trade? Free trade is the exchanges of goods between two or more countries to eliminate tariffs for cheaper imports. It sounds economically good but it can also be terribly bad in cases of job loss and a decrease in the amount of money made from tariffs. However, great things have happened from trade relations such as the job increase and economic growth. The pros and cons of free trade have a variety of advantages and disadvantages. Which side do you think is more beneficial for the economy and society?
Agreements for trade show great benefits for our economic growth. In the South Korea agreement, it showed an increase in over 25000 jobs in America that aids our economy to help lower the unemployment rate that now stands at an all time high (Blume). As everyone knows our country imports more than we export. The U.S. imports 54% of Agricultural goods, with the agreement made with South Korea, the reduced tariffs have made it cheaper for us. Trade helps our economy by making tariffs more affordable and it lowers prices to benefit consumers. (Blume) Countries within the agreement will help consumers buy superior products for cheaper than any countries outside the boundaries of the agreement. All of this is good news for an economy on the brink. Two-thirds of American, right now, think that free trade increases job loss
rather than create them (Reinisch). This is in the most part not true, but things such as job loss will impact certain areas of trade.
Problems with trade have left Americans unemployed and even homeless for cheaper work. Downfalls from agreements can substantially hurt our country. For instance, the NAFTA has taken the trucking program to mexico for cheaper work (“Stop Exporting American Jobs”). America, in the past, used to be known for our large manufacturing. Free trade agreements between 1980 and 2009 has cost about 38% of our...