The United States today is experiencing a severe trade imbalance. Many economist

Question

The United States today is experiencing a severe trade imbalance. Many economists feel that this trend cannot continue without trade restrictions being imposed on our trading partners. Examine trade and make a case for “free trade” and a case against “free trade” for the United States. What are the benefits and drawbacks on both sides of this issue? Be sure to examine the political environment as it exists today on both sides of this issue on the national level. What are the views of both liberals and conservatives on this issue?

Explanation / Answer

The benefits of "free trade" is that it allows participation in trade rom all over the world. It becomes an open market. The disadvantage is no revenues earned due to free trade by the government. The political aspect exist on national level which shows more demand in market as tax is not imposed on the products it becomes cost effective product.

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.