The Truth about Trade Agreements—and Why We Need Them. Peterson Institute for International Economics. Chad P. Bown. November 21, 2016
US trade agreements could be the first economic casualty of the 2016 election. One of President-elect Donald Trump’s signature campaign promises was to renegotiate the North American Free Trade Agreement (NAFTA) and even potentially pull the United States out of the World Trade Organization (WTO). And as Democratic leaders now contemplate their party’s future, they, too, are questioning the wisdom of such international deals.
Existing US trade agreements rose from the ashes of World War II and the Great Depression. Understanding how they protect the US economy, American workers, and consumers is critical to avoiding a repeat of the policy mistakes of the 1930s. [Note: contains copyrighted material].
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