Who Gains and Who Loses from Trade? Mathematics & Economics Essay (Essay Sample)

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Who Gains and Who Loses from Trade?
Part I
Donald Trump argues in the New York Times article that free trade is harmful to the U.S. economy because it allows foreign exporters to compete with local manufacturers and service providers, thereby creating unemployment as a result of US consumers purchasing foreign goods and services (Asaniti, Burns and Appelbaum 2016). A critical evaluation of this argument shows that it is not only unpersuasive, but also flawed because it fails to take into account the double-edged nature of tariffs and free trade agreements for the countries concerned.
First, Trump’s argument can be dismissed on the basis that free trade does not benefits foreign businesses alone, but also US exporters. Countries sign bilateral and multilateral trade agreements because of the mutual benefit that each country sees in the deal. Accordingly, no country would agree to a trade agreement if it is unfavorable to its local business and economy.
An analysis of the export-imports figures for 2015 between America and its four largest trading partners, China, Canada, Brazil and Mexico indicates that the U.S. is actually the beneficially of the North Atlantic