How Many Free Trade Agreements Does Us Have

Starting with the Theodore Roosevelt government, the United States has become an important player in international trade, particularly with its neighboring territories in the Caribbean and Latin America. Today, the United States has become a leader in the free trade movement and supports groups such as the General Agreement on Tariffs and Trade (later the World Trade Organization). [Citation required] When it comes to trade and investment, it`s not just about reducing trade barriers. They reflect decisions that influence the shape of the economy. We could design and negotiate trade agreements that harmonize social protection and raise the standard of living of workers in all partner countries, instead of negotiating trade agreements encouraging multinationals to outsource their production to low-wage sites, ready to make the most political concessions. This dynamic does absolutely no service to our poorest trading partners. My studies on the impact of Nafta, Trade in China and other trade agreements use the same methodology that Jeff and Hufbauer used in their original project, 1993, pre-Nafta, but I have considered the actual changes in trade deficits under these agreements and not the forecasts. A far from identical methodology was used in business and employment studies conducted by employees of the Federal Reserve Bank of New York and in a study on the trade and offshoring of two scientists with the Brookings Institution, among many others. Growing trade deficits with Mexico eliminated nearly 700,000 jobs between 1993, the year before Nafta came into force, and 2010. And major trade agreements since Nafta have been followed by growing trade deficits, which have cost even more jobs, as I said earlier. Saying that trade deals are good for America doesn`t mean they benefit all Americans. Some companies may take advantage of these new opportunities, others are suffering from increased competition.

Yes, trade agreements may supplant some workers from their current jobs, but they also create many new jobs in sectors where America has a competitive advantage, such as business services and high-tech industries. Compared to the creation and relocation of U.S. jobs to the United States, which are largely affected by technological advances and changing consumer demand, the impact of trade agreements is extremely small, but positive, as trade pacts ultimately create better and higher-paying jobs than displaced people. Workers in exporting production companies generally earn 12 to 18 per cent more wages than their counterparts in firms that serve only the domestic market. The United States has implemented 14 trade agreements with a total of 20 countries.

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