USA HISTORY

Detailed explanation-1: -Trade agreements generally lower trade barriers which promotes economic growth, efficiency, technological progress and what matters most in our economy, consumer welfare. Consumer benefits include lower prices and increased product variety.

Detailed explanation-2: -If the United States’ trade partner reduces barriers as a result of a trade agreement, U.S. exports will likely increase, which expands U.S. production and GDP. And suppliers to a firm that gains additional sales through exports will likely also increase their sales to that firm, thereby increasing GDP further.

Detailed explanation-3: -It supports US jobs. While expanding foreign trade can disrupt US employment, trade with China also creates and supports a significant number of American jobs. Exports to China support over 1 million US jobs, and Chinese companies invested in the United States employ over 160, 000 workers.