The United States and Free Trade

Paper Summary:

The paper explains the evolution of free trade and looks at the General Agreement on Tariffs and Trade (GATT). The paper also discusses the North American Free Trade Agreement (NAFTA) and its effects. The paper explores free trade advantages for the United States and the benefits of the free trade agreements. The paper explains the general advantages and disadvantages of free trade and shows how the free trade regime has a series of positive effects for the United States.

Outline:
Introduction
The Evolution of Free Trade
The General Agreement on Tariffs and Trade
The North American Free Trade Agreement and its Effects
The Free Trade Advantages on the United States
Free Trade Agreements' Effects on the United States
General Advantages and Disadvantages of Free Trade
Conclusions

From the Paper:

"By the term "free trade" economists refer to an idealized market model, where countries trade their goods or services without being limited and inhibited by tariffs and taxes imposed by governments and non-tariff barriers (Wikipedia, 2007). Some say that in order to have real free trade, perfect competition is required, while others say that the absence of inhibitory taxes is enough for the free trade to take place."
"Although free trade is considered by some economists to have important advantages, that surpass the eventual disadvantages, free trade has its share of opponents, like some of the nationalists, communists, agricultural and manufacturing interests, and anti-globalization and some labor campaigners."

Sample of Sources Used:

• Griswold, Daniel (2007). Free Trade Bulletin: Are Trade Deficits a Drag on U.S. Economic Growth? Center for Trade Policy Studies. CATO Institute. Retrieved April 6, 2007 from http://www.freetrade.org/pubs/FTBs/FTB-027.html.
• Trade Delivers Growth, Jobs, and Prosperity and Security at Home (2006). Office of the United States Trade Representative. Retrieved April 6, 2007 from http://www.ustr.gov/Benefits_of_Trade/Section_Index.html.
• Benefits of Trade to States (2006). Office of the United States Trade Representative. Retrieved April 6, 2007 from http://www.ustr.gov/Benefits_of_Trade/States/Section_Index.html.
• NAFTA: A Strong Record of Success (2006). Office of the United States Trade Representative. Retrieved April 6, 2007 from http://www.ustr.gov/Trade_Agreements/Regional/NAFTA/Fact_Sheets/Section_Index.html.
• Free Trade Agreements Are Working for America. CAFTA Policy Brief (2005). Office of the United States Trade Representative. Retrieved

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