Friday, October 18, 2019
Homework1 Assignment Example | Topics and Well Written Essays - 250 words
Homework1 - Assignment Example Eliminating tariffs on traded commodities between the two nations ensures lower prices and therefore ability to purchase commodities for meeting needs. It also increases variety of commodities in the market to facilitate utility. In addition, promoting international trade increased employment opportunities and income of involved stakeholders in production and distribution. Reported statistics on potential of Blacks to benefit from the initiative also identify the need for diversified economic initiatives for benefits to diversified population segments (Drew 1). The initiative has diversified benefit to the United States. It offers greater economic opportunities for the nation in Columbia by allowing products from the United States to be more prices competitive to domestic products in Columbia. The initiativeÃ¢â¬â¢s effects of increased international trade also has benefits such as increased variety of commodities to US consumers, reduced commodity prices, increased variety of goods, and increased employment rates due to increased productivity from the expanded market (Drew 1). A similar initiative could be duplicated in other countries because of effects of globalization that requires international corporation and benefits of facilitated international trade that are universal to all countries (Drew 1). Drew, Alton. Ã¢â¬Å"Getting ahead of ObamaÃ¢â¬â¢s national export initiative.Ã¢â¬ Politic365. May 24, 2013. Web. June 3, 2014.
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