Today we are going to discuss the World Trade Import Export. The main reason people talk about free trade is because they want to help other people in their countries, and everyone can prosper from a trade deal. I personally feel that free trade is a wonderful concept, it does help countries compete for the attention of buyers. However, when it comes down to the actual numbers, the U.S. does far more exporting than any other country in the world. It has the highest per capita exports of any country in the world. So this begs the question, “Why do we need a World Trade Import Export?”
The World Trade Import Export allows U.S. goods to enter other countries at a duty-based rate, which is very low for most products. This allows U.S. companies to buy more products at home, which then can be sold back at a higher price in the U.S., allowing them to re-sell here in the United States (while earning a good profit), or sell them overseas, and allow other nations to benefit from lower prices as well. However, this system does create another problem. Since all products traded are at the duty-based rate, it is impossible to buy anything over the Internet or through any type of electronic transfer.
Now, I realize that you might have a few computers, printers, televisions, or maybe some other high-tech items, but these are not the types of exports that you see advertised on TV, or hear mentioned on the radio. Instead, what you generally see are products that you would buy at your local Wal-Mart, your neighborhood electronics retailer, or any number of other places where you can purchase a similar item for a lot less money. So if everyone is buying these items, why are we still paying so much? Well, this is due to the different rates that are charged for each different type of export.
While the World Trade Import Export was initially created as a means to help the United States economy, the free trade arena has allowed other countries to take advantage of us. This includes goods and services that are bought and sold across state lines and even among different counties in the European Union. While the United States has been a major player in creating and enforcing free trade rules throughout the world, the Europeans have made it clear that they will use their leverage to get a bigger share of the global marketplace. If the United States wants to continue to lead the way in free trade, then we need to be prepared to deal with this challenge head on, and make changes to our trading practices immediately.
The only way that the US can regain its foothold in the World Trade Import Export market is to re-establish our free trade leadership. Luckily, this is something that the European Union is preparing to do. In fact, the EU is actively pursuing free trade agreements with the United States, South Korea, Canada, and Japan. By doing this, the EU is showing that it is serious about reclaiming its leading role in the global marketplace.
Whether or not the European Union is preparing to enter into comprehensive free trade deals with the United States remains to be seen. For now, we can be comforted in the knowledge that the EU is exploring ways to increase its own manufacturing base, something that the US has long wanted. And if the EU wishes to re-emerge as a leading player on the global scene, then it needs the US and its cooperation to help it reach its goal. While the US has long preferred open trade and free trade arrangements with the EU, it needs the EU to make the concessions necessary in order to secure its position as the biggest and most powerful economy in the world. If the EU was serious about pursuing free trade deals with the US, then it would be in everybody’s best interest to work closely with the US and help it negotiate these deals, rather than pushing for bilateral trade deals on our own.