International Trade Agreements

International Trade Agreements - In 1776, Adam Smith published the Wealth of Nations. Economist accepted that free trade among nations improve economic welfare. International trade allows each country to sell their merchandise cheaply to other countries.Free trade is not a benefit for everyone though. Sometimes it causes people to loose money there buisness may go bankcrupt so then therefore they forbid free trade agreements." Some of the groups that are hurt by foreign competition wield enough political power to obtain protection against imports. Consequently, barriers to trade continue to exist despite their sizable economic costs. "





Sources-http://www.econlib.org/library/Enc/InternationalTradeAgreements.html