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Free Trade Pros and Cons

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Blackwood
Published on 2022-03-23
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This free trade pro and con image depict the benefits and drawbacks of a free trade agreement. Tariffs, taxes, and duties applied by countries on their imports and exports are governed by free trade agreements. They can create new markets, boost GDP, and attract new investments. Free trade agreements can expose a country to natural resource degradation, the loss of traditional livelihoods, and local employment issues. Due to free trade agreements, local industries may be forced to become more competitive and rely less on government subsidies. As a result, countries must weigh the domestic benefits of free trade agreements against their consequences. The free trade pros and cons are highly considered as it impacts jobs, business growth, and living standards.
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