International Trade

Free Traders vs. Protectionists

Free Traders

Free traders believe international trade improves economic efficiency and offers consumers of all nations a wide variety of goods at the lowest prices.


Favor the use of fewer trade barriers


Free Trade Organizations:

North American Free Trade Agreement (NAFTA)

European Union (EU)

Association of Southeast Asian Nations (ASEAN)

Protectionists

Protectionists are opposed to international trade for the protection of national security, protection of infant industries, and protection of jobs.


Believe in strongly in the use of trade barriers:

Tariff

Quota

Standards

Subsidies

Embargo