The Trade Economy

1345 Words 5 Pages
Trade has become one of the top priorities for countries; “But in recent decades, leaders have come to see the economic clout that trade produces as more than merely a purse for military prowess: they now understand prosperity to be a principal means by which countries measure and exercise power.” (Froman, par.1). This brings in more money and jobs into the economy; “Trade supports higher-paying jobs, spurs economic growth, and enhances the competitiveness of the U.S. economy.” (Froman, par. 3). With trade follows peace between countries. Trade is a transaction between two entities, product from one entity is transferred to another for either product, money, or something else. Trade must change and reconstruct with the consistently changing …show more content…
Obama’s Administration has put together a three step “strategic trade objectives- establishing and enforcing rules of the road, strengthening partnerships, and promoting development” (Froman, par. 22). The trade system also must be constantly updated and forever being reshaped and transformed to fit the consistently changing society and economy. The United Sates will not always be at the head of the Trade market but must certainly try to be. Congress has taken steps to try and stay there, they must “consider trade agreements as they have been negotiated by the executive branch, trade promotion authority would give U.S. trading partners the necessary confidence to put their best and final offers on the table.” (Froman, par. 26). As long as agreements are respected and the market rules are updated then the system will grow on its own. The rules need to be further defined but as long as “the TPP, T-TIP, and AGOA give Americans a chance to shape the economy, rather than just be shaped by it.” (Froman, par. 27) then the future of our economy and other economies look hopeful. As the United States has worked on defining the rules, Asia-Pacific has also stepped up to help. Africa has also stepped up to the plate. As the U.S. exports to the African region rose, the “exports supported nearly 120,000 American jobs.” (Froman, par. 21). No matter what happens to the trade market, someone will always be at the forefront of it, leading and calling the shots, making the rules. A state or country will always step up and do what is

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