Wed Oct 05 09:33:00 EDT 2016 | News

Congress issues report on the effects of preferential trade agreements in US economy

The US Congressional Budget Office issued a report which evaluates the impact that preferential trade agreements have had in the US Economy. The document, entitled “How Preferential Trade Agreements Affect the US Economy” analyzes, among other issues, the impact of such agreements in the federal budget, its effects on the trade balance and its indirect influence over average wages and total employment rates in the country.

The report concludes that economic theory and historical evidence over the economical impacts of previous trade agreements signed by the US suggest that its long-term benefits overweights its short-term costs.

The document is published within a context on which US administration pressures the Legislative for the TPP (Trans-Pacific Partnership) approval. For the full report, click here.