Protectionism vs. Free Trade

Topics: International trade, Free trade, Tariff Pages: 2 (534 words) Published: April 10, 2012
Protectionism vs. Free Trade
Protectionism is the practice of the government putting limits on foreign trade to protect business at home. Free Trade is when there are few or no limits on trade between countries. Both sides have strong viewpoints representing their respective opinions. From the United States perspective, I think the elimination of Free Trade is one of the only ways the American economy can expand for the overall benefit of all the citizens and our national welfare. Our economy needs to get out of the huge deficit we currently face. Estimates are as high as 750,000 jobs were outsourced from the United States in 2009 alone. This is a staggering number, and a major contributing factor as to why our nation is facing the highest unemployment rates in the history of our great country. We need to ban foreign companies from selling their goods and products in the United States in order for our local markets to thrive and ultimately more people would be employed. I support Protectionism as the best method to the United States staying fiscally fit. Protectionism has several great arguments, some of them include: 1. The use of cheap labor in other countries can lower wages or threaten jobs at home. 2. A country can become too dependent on another country for important products possibly making them vulnerable. 3. Industries that make products related to national defense need to be protected. 4. Other countries might not have the same environmental or human rights standards. 5. Foreign competition will lower the demand for products made at home. 6. Companies at home must be protected from unfair foreign competition. All of these reasons are legitimate, but those against protectionism argue that the price of products could rise because of no other competition. I do not believe this is a valid concern, our elected officials, the United States government, can protect the American people by imposing their will on business and ensuring companies...
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