US Trade Agreements

bitcoin us1 Currently here in the United States, a lot has been put on trade agreements and trade deals that have been made and how the new presidential nominees will deal with them and whether they agree with them or not. Most of these deals have roots with countries in the Middle East and in South America, but interestingly enough, the majority of trades that go down for the USA have to do with Canada. Whether it is proximity or availability of marketable goods, it is with this country that the USA makes deals with the most. There are no issues between Canada and the US and the public has no qualms with negotiations. However where it gets sketchy with public opinion and larger trade deals is when oil is dealt, usually between the United States and Middle Eastern countries such as Oman, Kuwait, and Saudi Arabia. In these deals there is lots of tension because of differing societal and political opinions between the countries combined with massive amounts of money and pledged military support, or lack of intervention.

Another huge trade agreement that has been agreed on but not yet ratified is the TPP, in which 12 countries including the United States, Japan, Canada, Malaysia, and Australia, have agreed to terms that aim to slash tariffs in trades between the countries to try and promote trade in order to increase growth. It could essentially create another EU. Critics argue that the TPP paves the way for companies to sue governments that change policy on health and education to favor state-provided services. For this deal to be ratified it has to be ratified by February 2018 by at least six countries that account for 85% of the group’s economic output. This means that the US and Japan will have to come to terms within their political facets and come out and support the deal. This is just one example of a large trade agreement that the United States is a part of, but it does shed light on the difficulties of bringing so many countries together and to come to a consensus.

by Sam P.