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 illustration of the basketball game shows that one event can be viewed from many perspectives.
<u>Explanation:</u>
Basketball is game played against two groups having five members in each group. It is hard to determine how events happen in the basketball game. The basketball game illustrates that one event can be viewed from many perspectives.
The basketball was invented in 1891 in Springfield by James Naismith- a Canadian physical education instructor. The first basketball game was played in 1891 at Springfield College. Initially the basketball game was played as an indoor sport during winter.
Answer:
Transjordan's formal independence from the UK was agreed in a treaty signed on 22 March 1946 that also provided for 'perpetual peace and friendship' between the two, while providing for continued British support for the Arab Legion and access to military facilities.
The Virginia House of Burgesses was the first democratically-elected legislative body in the Colonies
<span>Lincoln suspended the right of habeas corpus, or the right to be brought before a judge to tell what one is being charged with, in the border states during the beginning of the civil war in order to prevent them from seceding. He considered it necessary for the preservation of the union.</span>
