Wednesday, May 6, 2020

Agricultural Economy In Perilea - 1189 Words

The United States exported over $140 billion in agricultural value to the international market in 2013, which $56 billion (40 percent) was to 20 FTA partner countries; within 10 years, this data increased more than 130 percent from $24 billion in 2003. FTAs have lower the price of American produce in U.S. free trade partners’ agricultural market, hence, raised the quantity demanded. According to the United States Department of Agriculture (USDA): †¢ Under the U.S.†Chile FTA, U.S. agricultural exports to Chile have grown by more than 525%, increasing from less than $145 million in 2003 to more than $900 million in 2013. †¢ Under the U.S.†Peru FTA, U.S. agricultural exports to Peru have grown by 230%, rising from less than $215 million in†¦show more content†¦In the 1993-2011 period, U.S. agricultural exports to Canada and Mexico rose by 258% and 408%, respectively, with sales to each country topping $18 billion in 2011† (â€Å"NAFTA Triumphant: Assessing Two Decades of Gains in Trade, Growth and Jobs†). America became the largest farming supplier of Canada, which contributed 59 percent of their imports in 2012. China – a non-FTA partner became the top market for U.S. agricultural export in 2013, accounted for over $23.3 billion comparing to $21.4 billion of Canada (Cooke et al). Nevertheless, China had a population of 1.4 billion, which mean spending per capita for U.S. produce was only $16.64 dollar; for Canada was roughly $648.48 (Canada population: 33 million). The effect of free trade on consumer price for agricultural goods are not clear due to various factors such as government subsidies, increase in domestic farming productivity, etc. However, it is certain that with FTAs, American consumers enjoy more variety of farming produce from different parts of the world with a lower price, at least less the tariffs rates. 3.2 Manufacturing. Manufacturing has become the focus for critics when it comes to the free-trade debate. Many people blame trade for the reduction of manufacturing jobs in the U.S. People are angry because American companies invest and build manufacturing plants abroad instead of on American soil. They are angry because American brands are being labeled: manufactured in China,

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