Question

Perform an Internet search and locate an article that discusses the pros and cons of a trade agreement (NAFTA or USMCA, European Economic Area, TPP, MERCOSUR, etc.). Please be sure to use a reputable news source, such as Bloomberg, Forbes, BBC, etc. You may need to use two sources (for example, CNN and FOX) in order to obtain information on both pros and cons. A news article will often be biased and cite only the pros, but not the cons (or vice versa); therefore, using more than one source is critical in forming your own view.

Briefly summarize your article(s), and then apply this to business managers. Do free trade agreements provide opportunities and threats to businesses?

Answer 1

As per the CNN, free trade agreement such as NAFTA and others  has not given much to the working class people, it has created a rising way for many corporate and industrialists. There are several cases of job lost in the automobiles sector and the marginalised families are badly affected by these free trade agreement . It definitely paves the way for the development and growth of the industries and industrialists but the low class working people are being in a kind of trap into the hands of few multinational corporates.According to a report of CNN if really this trade deals were beneficial for every one in America then they would also include enforceable wage standards for all the working people.The people will be free to form multinational bargaining units to negotiate with the big corporates .If these trade deals are good for everyone then it would have definitely respected the paris accord to control the pollution level and fight climate change but these are not the real intentions. The real intention is creation of an environment suitable fo big multinational corporates. If we talk about only Nafta trade deal as an example to understand the trade deals benefits and losses then we can say that NAFTA has lowered the price of many goods .NAFTA was good for GDP. NAFTA was good for diplomatic relations ,NAFTA increased us exports but on the other hand it cannot be forgotten that NAFTA led to severe job losses in the U.S manufacturing sector.NAFTA created problems for small farmers and samall business owners, it has also reduced the wages of non college educated workers .

overall we can say that the trade deals created both winning and loosing environment for different segments of the U.S population.