International Trade summary

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 country’s trade is always in balance.

Trade deficits do not mean the United States no longer produces anything to export. The United States is the world’s second-largest manufacturer and the world’s 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 world’s 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.

Prepare a 6- to 8-slide evaluation presentation of credible economists' unbiased opinions on the benefits, costs, and results of current U.S. trade and tariff policies.

Include detailed speaker notes and visual elements, including graphs and tables.

Complete the following in your presentation.

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.