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The United States has entered into trade agreements with other countries in order to set rules...

The United States has entered into trade agreements with other countries in order to set rules and expectations to increase trade and commerce. Research either NAFTA or the TPP. How the deal you chose impact or will impact foreign trade. What were the benefits and any negative consequences from entering these types of trade agreements?

Identify the problem that is causing the desire for market intervention (please provide the citations used)

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Expert Solution

US trade with its North American neighbours has rose to more than three times than the rest of the world. From 1992 to 2007 the trade volume between the NAFTA partners grew by 156%. The deal has a modest but positive impact on US economy but it has created joblessness and wage stagnation. It has also caused a loss of six lac jobs in the US over two decades. NAFTA has also caused decline in the US manufacturing jobs though there has been a considerable influence on international trade volumes.

                                                   The problem that is causing the desire for market intervention are rate of income growth, correction of market failures, Price stabilization, to achieve equitable distribution of income and wealth and to improve the performance of the economy.

Rahul Sunny answered 2 years ago
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