What countries will benefit from free trade?

What countries will benefit from free trade?

The Economic Principle I’m Exploring is that people gain when they trade voluntarily

My research question to help me study the economic principle is How does free trade help Americans

The article published by Cato Institute called the Benefit of Free Trade demonstrates the principle by
showing how many countries would benefit from free trade.

First the article discusses how if we get cheap goods from other countries it lowers the price of goods which overall benefit consumers and businesses.  According to Kreiger “the objective of free trade is therefore to get goods on advantageous terms”. This will let people satisfy their wants. It also lets us benefit from the division of labor and comparative advantage.

Secondly the article brings up how if we have free trade both countries that are trading with each other can
prosper.For example if Switzerland is very good at making watches and need wheat While Canada is
good at growing wheat but need watches. They should be able to trade with each other freely. This allows
prosperity because people will be able to produce goods that they have a competitive advantage over.
Thus providing this product to other places in the world.

Lastly going off of the second point some countries are able to make better products. By providing free
trade it will allow for all countries to profit at things that they are good at making.

In my next blog post I will discuss How does free trade have an affect on jobs?