A Brief Note On Free And Global Trade Essay

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Research Paper: Free and Global Trade Trading with other countries may come with an extra cost for United States citizens when Donald Trump is sworn into office on January twentieth. Maintaining free and global trade will become one of Americas greatest concerns, because Trump does not like the concept. Free trade is important because it has initiated drastic growth in the economy ever since NAFTA. The U.S. economy needs to keep free trade, or else there will be higher tariffs on imports, less trade with other countries, and exports will decrease. One down side to having no free trade and less global trade, would be that the tariffs on products from other countries would be extremely high. Tariff prices would be dramatically raised in order to encourage the consumption of domestic products. However, an increase in tariffs would naturally increase the price of products, because all products would have to be produced in the United States. Free and global trade is a great thing for the U.S. economy. In a Fox News article, Peter Morici, a widely known American economist, says, “Lowering tariffs and other barriers to global commerce should foster more specialization among nations. Workers in America don’t stitch garments and assemble iPhones, but instead manufacture high-end components, write software and sell banking and other services worldwide.” When countries specialize in making certain goods, then maximum efficiency can be reached. Low tariffs would lead to more trading,

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