Free Trade Day

Free Trade Day - Wednesday, May 8, 2024

Economy Government & Legal

Free trade is an often discussed topic in economics, but outside of the experts, not many know about what free trade is. If you’re looking for a great learning opportunity, then Free Trade Day is your ticket. Free Trade Day teaches about what free trade is, why there are people who support it, and its historical impact in the world.

Free Trade Day emphasizes what the world would look like without tax and trade barriers.  It also aims to help encourage people to learn about this kind of economic thought and its social impacts.

History of Free Trade Day

Economics is a complex social science and its central themes– supply, demand, taxation – are discussed by commentators with many different perspectives. Free Trade Day is one such perspective in modern economic debate.

Historically, the Free Trade movement began during the 19th century when trade was a diverse issue in American politics. High tariffs began to take place during the time of the Civil War when northern traders wanted to protect their trade from the southern competition.

The southern trades opted for open trade policies to export cotton. Free trade truly didn’t begin as a concept until the 1980s with the Free Trade Agreement. The advances towards the idea of free trade came from the rate of tariff falling due to interest in foreign trade and the post-war economy of World War II.

Free Trade, from then on, became a topic of discussion as the ’90s and 2000s rolled around.  This created economic debate as companies would internationalize their production. Free Trade Day argues in favor of free trade and reinstalling free trade and removing the tariff barriers. It supports the idea that lower prices for consumers and growth opportunities for producers would ensue.

Free Trade Day aims to help teach people about the trading system and what the bigger picture is in regards to world markets. Free Trade Day is annually celebrated by encouraging people to purchase from.

How to Celebrate Free Trade Day

If you support the idea of free trade, then show your support by bringing friends and family together to discuss it. Look into research about the benefits and disadvantages of free trade on a national and global scale.

Then seek opinions from expert economists about what free trade could do to the economy overall. Post your opinions on social media and start a conversation.

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