Written in 2007; 1,420 words; 15 sources; MLA; $ 47.95
Paper Summary:
In this article, the writer notes that as U.S. deficits accelerate, advocates of protectionism use the data to fuel emotional support for their fight against free trade agreements such as NAFTA. But, the writer points out that to determine whether or not a trade policy is good or bad involves more than just exploring trade balances. The writer maintains that a more complex analysis that considers factors such as economic growth, foreign investment and the benefits of market specialization reveal that free trade has a net positive impact. NAFTA is no exception. With regards to the growing trade deficit, the writer notes that NAFTA simply accelerated the inevitable as the U.S. is forced to compete in an increasingly global marketplace. The writer concludes that therefore, the U.S. should continue to promote free trading by seeking out the signing of agreements such as NAFTA.
Outline:
Abstract
Introduction
Discussion
Summary and Conclusion
From the Paper:
"Increasing trade has been a success, but it is true that beneficiaries have been Mexico and Canada, not the U.S. In the first ten years of NAFTA, trade among the three countries more than doubled, from $306 billion to $621 billion in 2003 (USTR on NAFTA's tenth anniversary). During the same time, U.S. exports to Canada and Mexico grew from $142 billion to $263 billion. However, Mexican and Canadian exports to the U.S. have grown even faster, leaving a huge U.S. trade deficit with these countries. Before NAFTA, the U.S. maintained a modest trade surplus with Mexico. Now, the U.S. has a huge trade deficit with Mexico as Mexican exports to the U.S. grew 242% during the decade of NAFTA execution (USTR on NAFTA's tenth anniversary). And, the U.S. trade deficit with Canada has increased fivefold."
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