Topic > United States trade policy: current and future role in...

The United States has been involved in the growth of the world economy for over two centuries. While the post-Revolutionary War United States sought to protect itself from outside influences, it has sought to break trade restrictions since the Great Depression and World War II. The United States' role in the global economy grew throughout the 20th century and, following numerous historical events, it has adopted positions of both benefactor and dependent. Over time, U.S. trade policy has shifted from isolationist protectionism to a commitment to establishing global free trade. The free trade enterprise has developed and grown through organizations such as the WTO and NAFTA. The United States, to realize its desires for free trade, has implemented a number of policies that can be examined for both their advantages and their shortcomings. There are several trade policies as options for the United States, among them fair trade and free trade policies dominate the world economic market. To achieve economic growth, the United States has a duty to maintain a comprehensive trade policy that benefits both domestic workers and industry. While free trade provides opportunities for big industries and wealthy corporate investors, the American worker suffers from job instability and lower wages. Yet fair trade policies that protect American workers do not help promote broad economic growth. The United States must therefore engage in economic and trade policies that protect the founding principles of the United States and ensure greater economic stability for tomorrow. The United States' free trade agenda includes policies that seek to eliminate all restrictions and quotas on trade. The benefits of free trade can be seen through domestic markets and the growth of the world economy. T...... middle of paper ......system primarily responsible for promoting global competition. Free trade also promotes shifts in production to fit the “comparative advantage” model. Although free trade is widely practiced, countries must submit to the controversial institutions of the IMF and WTO, regarding how to regulate free trade, something that is supposedly unregulated. Fair trade policies, while potentially creating smaller markets, support workers' rights in both the United States and developing countries. Although the pros and cons of globalization continue to be debated, the United States can no longer shirk its role in the global economy or impose policies that are harmful to the United States' founding ideals. However, policies that address the benefits of free and fair trade could stimulate a healthy national economy that is also competitive in the global marketplace.