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