Lecture Economics of social issues - Chapter 10: Competition in the global marketplace: Should we protect ourselves from international trade?
Lecture Economics of social issues - Chapter 10: Competition in the global marketplace: Should we protect ourselves from international trade?
The creation of the North American Free Trade Agreement and the World Trade Organization stepped up the controversy between protectionists and free traders. Protectionists argue that imports should be limited to reduce foreign competition with goods produced in the United States, to remedy balance of trade and balance of payments problems, and to encourage U.S. industries vital to national security and economic welfare.