How Important Is Free Trade In The United States?

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“Free trade.” What is free trade exactly? How is it defined? Free trade is an “international trade left to its natural course without tariffs, quotas, or other restrictions.” That is the definition that used globally to define it. In this situation major economies strongly believe that free trade delivers economic health growth. Trump however was able to maneuver around and assure to reduce America’s huge trade deficits, which Trump says have cost the country millions of well-paying jobs. A g-20 meeting discussion was has occurred with some of the biggest economies as the IMF, world bank,Treasury Secretary Steven Mnuchin and Federal Reserve Chair Janet Yellen were representing the United States and many more at the meeting. They were trying to find a solution to insure fair free trade for everyon. Many already entering the g-20 …show more content…

German Finance Minister Wolfgang Schaeuble mentioned that if more isn’t done “we will see more protectionism and countries retreating from globalization.” By this he meant that if actions aren’t being taken sooner to assure fair free trade we (the citizens) will start seeing a repeal from states. Backed up on this statement was Mnuchin, he had something of his on to mention. He indicated that “the United States wanted to see the IMF “more robustly fulfill its surveillance mandate,” which includes monitoring the currency policies of IMF member nations to make sure they do not manipulate their currencies to gain trade advantages”. This statement was argued, but was agreed by everyone which led a conclusion of an

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