Econ Ind. Studies
Free trade has it's advantages and disadvantages, as any other law. In the U.S. perspective the advantages and disadvantages even out. These odds in advantages are beneficial not only to the United States but also to the foreign countries we trade with. One of it's advantages is the reducing of prices of foreign goods and services; making products that we are unable to manufacture here, or that are too expensive to manufacture here, available at reasonable prices. On the other hand free trade also reduces the prices of American goods and services; though beneficial to other countries, this affects our economy, evening out our prices with foreign prices. Another advantage of free trade is that we gain access to lucrative services industries we were not granted previously, such as the Central American country's agricultural supply and South Korea's alternative energy expertise. The need of foreign goods and services, at cheaper prices, will significantly decline American manufacturing, giving us another disadvantage in the agreement. An advantage that can also be a disadvantage in the free trade agreement is that it reduces or even eliminates tariffs or taxes not only on foreign products but also on American products. Though we are beneficiating on the lower costing goods and services, foreign countries are also beneficiating off of our cheaper goods and services. A conclusion I have drawn form the advantages and disadvantages of the free trade agreement is that over all it is a beneficial agreement for the United States. Though it will not result in an outburst of luxuries for our economy, it will bump us up to a more stable and secure status in which we can be more comfortable. In the end the free trade agreement is another start to the growth of the United States.