Summary
Both the World Trade Organization and Global Trade Alert recently issued reports detailing the alarming trend of creeping protectionism that threatens to slow the global economic recovery and hinder national competitiveness.
Trade is vital to economies throughout the world, and the U.S. economy in particular. In 2008, exports of goods and services generated about $1.84 trillion, or 13 percent, of U.S. GDP, according to the Commerce Department. By some calculations, ten percent of all U.S. jobs and 20 percent of our manufacturing jobs depend on exports. And trade-related jobs typically pay 13 to 18 percent more than the average U.S. wage.See the full content of this document
Extract
Trade Is Part of the Solution
In addition, the claims of international trade's adverse impact on the U.S. economy are frequently exaggerated. A recent study by the Federal Reserve showed that import com...
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