Promoting international trade is not a zero-sum game. It is a win-win proposition; both parties gain from trade.

Consider the following.

• Tariffs are paid by the citizens of the country imposing tariffs, not by the citizens of the country producing the products upon which the tariffs are levied.

• The term trade deficits is a misnomer. Every countrys trade is always in balance.

• Trade deficits do not mean the United States no longer produces anything to export. The United States is the worlds second largest manufacturer and the worlds second largest exporter of manufactured goods.

• Trade deficits reflect a strong economy. Trade deficits rise during economic expansions and fall during economic contractions. Unemployment falls as trade deficits rise and rises as trade deficits fall.

• Imports and exports are complements, not competitors. Both are necessary and both contribute to economic growth.

• There is a strong correlation between the rise in world trade and:

  • The rise in world GDP

  • The dramatic fall in the worlds extreme poverty rate

  • The rise in world life expectancy

• Those 7 jobs cannot be brought back from overseas because they never left the United States.

Write a 750- to 1,050-word evaluation of credible economists unbiased opinions on the benefits, costs, and results of current U.S. trade and tariff policies.

Complete the following in your evaluation:

• Evaluate how U.S. trade policy changes in the last 2 years affect global trade activities by multinational corporations.
• Discuss credible economists opinions on the long-term effects of trade and tariff policies changes in the last 2 years.
• Explain the effect of recent changes to trade and tariff policies have had on your employer, you, or someone you know.

Cite at least 2 academically credible sources.