Question

Illl give away as many points

Choose a trade agreement that the US is currently negotiating that you would like to learn more about. Which trade agreement did you choose?



If you haven’t already, click the link for the webpage of the potential agreement you selected, and navigate through it to answer the remaining questions. You may have to go to other websites to find some information. If so, be sure to cite your source in your response. List five main points of this potential agreement.



What are the major regions and industries that the agreement would positively affect?




What are some of the current tariffs or barriers to trade?




How will consumers benefit from this trade agreement?




Find at least two Congress members or industry leaders who are in support of this agreement, and explain why they support it.




Find at least one Congress member or industry who is against this agreement, and explain why this person is against it.




How will this agreement benefit the US economy overall?




How will this agreement benefit people in your state specifically?

Answer 1

What are the major regions and industries that the agreement would positively affect?Major regions this agreement would positively affectis Europe and the United States.

What are some of the current tariffs or barriers to trade?Specific tariffs.

Ad valorem tariffs.

Licenses.

Import quotas.

Voluntary export restraints.

Local content requirements

How will consumers benefit from this trade agreement?A central tenet of international economics is that lowering trade barriers increases welfare. Trade agreements between countries lower trade barriers on imported goods and, according to theory, they should provide welfare gains to consumers from increases in variety, access to better quality products and lower prices.

Step-by-step explanation: