Many Americans feel that their jobs at home should be protected and that free trade should be limited. However, global competition and less expensive imports keep prices under control and reduce inflation. In this assignment, you will be researching and discussing the pros and cons of free trade.
Free trade is best defined as a system in which goods, capital, and labor flow freely between nations, without barriers, that could hinder the trade process.
Use your module readings, the online library resources, and the Internet to research the arguments for and against free trade. Then, respond to the following:
- Describe the advantages and disadvantages of free trade.
- Explain if free trade can ever be fair. Justify your response.
- Explain the measures that a country can take to protect itself from the negative aspects of free trade.