Question

The need/importance of trade.​

Answer 1

Answer:

Trade is critical to America's prosperity - fueling economic growth, supporting good jobs at home, raising living standards and helping Americans provide for their families with affordable goods and services. ... Exports were $143 billion; Imports $121 billion; and the trade surplus was $22 billion.

Answer 2

Answer:

Trade is essential for keeping a competitive global economy and lowers the prices of goods internationally as it spurs innovation and encourages markets to become specialised. The ability to trade also allows access to goods and services that might be of higher quality and lower cost than its domestic alternative.

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