the us signs a free trade agreement with another country that has dramatically different resources. how would this trade treaty affect the us?
businesses will most likely not offer a variety of products
consumers will face higher prices as trade deficits increase
industries will increasingly focus on using interdepdence
producers will be put out of business as more interesting products enter the market
The trade treaty could have both positive and negative effects on the US. On one hand, it could lead to increased access to new and unique products from the other country, potentially boosting consumer choices and competition in the market. It could also open up new export opportunities for US businesses, leading to potential economic growth and job creation.
However, the treaty could also result in increased competition for certain industries in the US that may struggle to compete with the other country's lower-cost resources. This could potentially lead to some producers being put out of business or facing hardship. Additionally, if the trade deficit with the other country grows significantly, it could lead to higher prices for consumers as well.
Overall, the impact of the trade treaty would depend on the specific terms of the agreement and how well US industries are able to adapt and compete in the global market.