Answer:
The benefits of trade agreements are not felt evenly by all industries in an economy. In fact, even member nations gain varying advantages by entering into trade agreements. However, despite these drawbacks, the United States continues to act on its commitment to free trade. In 2005, the United States signed a fair trade agreement (FTA) with Australia, and in 2012, it signed a trade protection agreement (TPA) with Colombia. Both agreements have been in force for a while. Now the question is, Have these agreements benefited the US economy? Let’s examine the impact of the bilateral agreements with Colombia and Australia on the US economy.
According to the USTR, the International Trade Commission (ITC) predicted that the United States–Colombia TPA would increase national GDP by $2.5 billion (Office of the US Trade Representative). Under the TPA, US exports to Colombia increased from $12.0 billion in 2010 to $18.3 billion in 2013 (US Department of State). The TPA seems to have delivered on its promise, because according to the USTR, US exports to Colombia increased by 30% in 2013 (Office of the US Trade Representative). So financially, Colombia is a lucrative market for the United States. However, the main opposition to the TPA stemmed from concerns about the terrible labor conditions in Colombia and the violent threats to those seeking to improve labor conditions in a country rife with crime. Although violence is a major concern, the FTA will eventually help both nations by bringing about social and labor reforms through economic activity. By helping Colombia become a peaceful country, the United States can pave the way for increased trade with Colombia in the future.
The United States–Australia FTA received considered opposition in both countries. US dairy farmers, ranchers, and small farmers were anxious about job losses resulting from the free entry of Australian products into the US market. However, if we judge by the boost in exports, the FTA has contributed to overall US economic growth. According to the USTR, in the first five years of the FTA, US exports to Australia increased by 33% (Office of the US Trade Representative). The FTA removed all tariffs on American imports into Australia, giving US exporters barrier-free entry into Australian markets.
The export industry plays a key role in driving economic growth and generating jobs in the United States. Colombia and Australia are two large and important markets for US exporters. The United States faces competition from other nations for access to these markets. By signing trade agreements, American goods can compete effectively in these markets. Although the agreements with Colombia and Australia are opposed for valid reasons, the agreements will benefit the US economy over time
Explanation:
The child or childer by a slave woman is/are considered slave by birth. It was part of the <span>Virginia Slave Act of 1662 that states that all child of a slave women are considered slave for a lifetime. While the child of the free woman is always considered to be free. </span>
Hi there!
Because this question has been posted before, I'll post my previous response here.
The case of Gibbons v. Ogden was a landmark Supreme Court case decided in 1824 concerning the power of the states to regulate interstate commerce. This case involved a steamboat owner, Thomas Gibbons, who did business between New York and New Jersey and the then governor of New Jersey, Aaron Ogden. Gibbons argued that the monopoly Ogden had was a violation of the commerce clause of the Constitution and therefore not valid. This proved to be the case. In a unanimous decision, the Supreme Court decided that this law conflicted with federal law and the powers the federal government had to regulate interstate commerce. Under the Constitution, Congress has all powers necessary and proper to carry into effect the laws that it passes. This reinforced that clause.
