U.s. Trade Agreements And Trade Agreement

Guatemala is the key trade partner of the United States, El Salvador, Honduras, Mexico, Nicaragua, and Panama are other major trading partners. Between 2008 – 2009 total exports have decreased from $17,848 billion, to $6,768 billion. While imports are estimated to have declined from 13.42 billion dollars in 2008 to 10.91 billion dollars in 2009. Even though Guatemala tries to expand its manufacturing activities to reduce economic dependence on agriculture. The agricultural sector is a major contestant of Guatemala’s import, export

In 2004 according to a report America’s imported as much as Japan, Germany, China and India combined.

Mostly, when we were trading with other countries, we wanted to find as many as possible and keep them to ourselves, away from the other countries wanting to trade. The U.S. did this because our country was expanding, and so was out economy. We mostly traded with China, which was flowing with products that the U.S. wanted and needed. In this time, the U.S. has traded more than ever. In William Howard Taft’s First Annual message, it states, “To-day, more than ever before, American capital is seeking investment in foreign countries, and American products are more and more seeking foreign markets.” This shows how we were in need of

* In terms of both exports and imports which country is the number one trading partner with the U.S?

The North American Free Trade Agreement, commonly known as the NAFTA, is a trade agreement between the United States, Canada and Mexico launched to enable North America to become more competitive in the global marketplace (Amadeo, 2011). The NAFTA is regarded as “one of the most successful trade agreements in history” for its impact on increases in agricultural trade and investment among the three contracting nations (North American Free Trade Agreement, 2011). Supporters and opponents of the NAFTA have argued the effects of the agreement on participating nations since its inception; yet, close examination proves that NAFTA has had a relatively positive impact on the economies of the United States, Canada, and Mexico.

The United States has many goods that other countries want and need, but we do not have everything which means we need to trade with other countries. Some of the goods that the U.S. trade for are industrial supplies and equipment. Chemicals, fuel, oil, and

The major goods and services traded between Mexico and the US are agricultural products and US exports of private commercial services. These to go major goods are imported and exported between US and Mexico. According to USTR.gov, "United States goods and private services with Mexico totaled an estimated $536 billion in 2012. Would exports totaled 243 billion! Imports totaled $293 billion. The total US goods and services trade deficit with Mexico was $49 billion into thousand and 12. "Since US and Mexico our neighboring countries, most of the important export come at a better value priced tag for consumers since shipping cost is much lower than other trading partners such as China and Europe. Trade in private services with Mexico (based

2. The information listed below is accurate as of 2014. The Mexican economy has a labor force of 52.9 million people. This labor force comprises of 13.4% agriculture, 24.1% industry, and 61.9% services. The services also exceeded $550 billion, which is just under half the $1.3 trillion Mexican economy. During this time period the unemployment rate was reported at 4.8%. The unemployment rate could, however be up to a 25%. Over half of the Mexican population is below the poverty line at 52.3%. Mexico exported $406.4 billion. The major Mexican exports include: manufactured goods, silver, oil and oil products, fruits, vegetables, cotton, and coffee. The United States (U.S.) is Mexico’s largest export partner, contributing to 78.8% of the total exports. Mexico imported $407.1 billion. Mexican imports include: steel mill products, metalworking machines, agricultural machinery, automobile parts, aircraft, aircraft parts, and electrical equipment.1

The United States and China share the most imbalanced bilateral trade relationship in the world. The United States imports more goods from China than it exports to a tune of $202 billion dollars each year. All told, China alone accounts for nearly 26% of the

The Trade Agreement has provided North America with many benefits. One of them is NAFTA quadrupled trade. According to Kimberly Amadeo, “from 1993-2015, trade between the three members quadrupled, from $297 billion to $1.14 trillion. That boosted economic growth, profits, and jobs for all three countries. It also lowered prices for consumers.” The trade pushed this all to happen because it eliminated the tariffs and made it easier for the North American countries to come together and trade.

Clearly NAFTA has led to widespread job loss, with more than 200,000 U.S. workers certified as NAFTA casualties under just one narrow government program. Since the 1970's, there has been a steady trickle of

* Export goods account for $1.687 trillion, some of the main export partners of the European union are:

     There are various trade agreements the United States have with many other countries and I will do a brief overview of a few of them. The most noticeable one is the North American Free Trade Agreement, which include the United States, Mexico, and Canada. This agreement was constructed and approved in January of 1992 and formed the largest free trade area. NAFTA eliminated and reduce tariffs and non-tariff barriers in addition to comprehensive provisions in the way trade was conducted between these countries.

Being the world 's largest economy, the United States is also largest exporter and importer of goods and services. American economic growth relies heavily on trade. According to a recent report on NAFTA, “Since 1992, nearly 20 million new jobs have been created in the U.S., in part due to the 1994 NAFTA agreement. Total trade between the NAFTA partners -- the U.S., Canada, and Mexico -- rose from $293 billion in 1993 to more than $475 billion in 1997, and has increased since. ” (Bowman, Free Trade). It is obvious evidence that international trade is beneficial to the US economy, at least in the 1990s.

In terms of geographical breakdown of imports, again the major trading partner is Asia accounting for around 66 per cent followed by Europe 17 per cent and USA 9 per cent. The import/export imbalance with respect to the USA is one of the reasons causing discomfort in Washington