Free Trade : An Open Market Needs A Level Playing Field

2574 Words May 5th, 2016 11 Pages
Philip Hammond once said, “When I believe firmly in open markets and free trade, I also believe an open market needs a level playing field.” This would express the definition of free trade, the international trade left to its own course without tariffs, quotas, and other restrictions. However, this definition is a myth. Free trade is not as free as it is meant to be believed. Free trade extends to the relationship of Europe and the United States. With that being said, free trade has turned into a dependence upon the United States as Europe has no other source to turn to or gain necessary means for profit. So, the United States is able to abandon Europe, but Europe cannot lift the oppression of tariffs. By definition, the free market should be determined by supply and demand, and consumers than restrictions and interventions. This does not seem to be the case in the relationship between these two nations. Today, free trade agreement lends itself to the free movement of the superpower while Europe has limitations. This free trade is known as the Transatlantic Trade Investment Partnership. The United States and Europe trade is for the “mutual” benefit of job creation,economic growth, and international competitiveness. However, this trade agreement is only beneficial to one party, the United States. This law allows a foreign company who invests in a foreign country to sue the nation if the country makes changes to the agreement. Therefore, Europe will always be in debt to the…
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