Aspects of International Trade on the U.S. Economy and Labor

Abstract

Probably the most important single insight in all of international economics is that there are gains from trade - that is, when countries sell goods and services to each other, this exchange is almost always to their mutual benefit. Paper deals with issues such as the U.S. international trade characteristics in terms of its positive and negative aspects on the U.S. economy and labor and the labor relations and trade development synergies and parallels being discussed. This study is analyzing the US trade policy agenda and discussing the impact of foreign trade on the new jobs creation possibilities along with the U.S. social and economic development and its current status in international economic relations. Paper would demonstrate that trade means jobs for local communities throughout the United States as well as business opportunities for small and medium-size firms across the USA.