Free Trade

Paper Summary:

In this article, the writer points out that while tariffs were once popular in the historical past as a way of protecting the national economy from the forces of competition, today most economists agree that free trade has more benefits for both countries engaging in such trade than drawbacks. The writer notes that the United States-Israel Free Trade Agreement, the North American Free Trade Agreement (NAFTA), and the Canada-Costa Rica Free Trade Agreement, are all treaties that have attempted to curtail or eliminate tariffs between the agreeing nations with the aim of improving international business. These agreements are discussed. The writer concludes that by rendering nations more interdependent upon one another in the developed and developing worlds, persons living in areas of the globe, from Canada to Costa Rica, from Mexico to Israel to the United States, will have a greater interest in maintaining peace and stability between nations of different cultures.

From the Paper:

"The United States-Israel Free Trade Agreement, the North American Free Trade Agreement (NAFTA), and the Canada-Costa Rica Free Trade Agreement, are all treaties that have attempted to curtail or eliminate tariffs between the agreeing nations with the aim of improving international business. The US-Israel Free Trade Agreement was the first of its kind, and has since become a model for other free trade agreements. The US-Israel Free Trade Agreement allowed American products to compete with European goods on the Israel domestic market. It was agreed upon between countries in 1985 and eliminated almost all restrictions and duties on trade between the United States and Israel. A non-binding declaration of trade in services was also included in the FTA, providing for the elimination of barriers in industries pertaining to tourism, communications, banking, insurances, management, consulting, accounting, law, computer sciences, and advertising."

Sample of Sources Used:

• "Backgrounder Summary of the Canada-Costa Rica Free Trade Agreement." 1006. [20 Sept. 2006] http://www.dfait-maeci.gc.ca/tna-nac/CR-back-en.asp
• "Canada." Encarta 2006 [20 Sept. 2006] http://encarta.msn.com/encyclopedia_761563379_11/Canada.html#S55
• "Costa Rica." Encarta. 2006. [20 Sept. 2006] http://encarta.msn.com/encyclopedia_761572479_3/Costa_Rica.html#S12
• "Glossary of Statistical Terms." OECD. 2006 [20 Sept. 2006] http://stats.oecd.org/glossary/detail.asp?ID=2654
• "Group of eight." Encarta. 2006. [20 Sept. 2006] http://encarta.msn.com/encyclopedia_761589420/Group_of_Eight.html

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• Persuasive Essay # 32492 : "Impact of Free Trade on Canada"

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