The United States began negotiating bilateral and multilateral free trade agreements with the following countries and blocs: starting with the Theodore Roosevelt government, the United States has become a major player in international trade, particularly with its Caribbean and Latin American neighbors. Today, the United States has become a leader in the free trade movement and supports groups such as the General Agreement on Tariffs and Trade (later the World Trade Organization). [Citation required] The Democrats` Tariff Act, passed by the 72nd Congress and passed by President Hoover on May 11, 1932, called on the President to “negotiate reciprocal trade agreements as part of a policy of reciprocal tariff concessions.” During his pre-election campaign, Roosevelt advocated international negotiations in which the United States would agree to “reduce some of our tariffs” in order to achieve “a lowering of foreign walls” as the “first and most desirable” to obtain tariff reductions. In his inaugural address, he said he would “make no effort to restore world trade through international economic adjustment,” but added that “our international trade relations, while very important, are secondary over time and the need to create a strong economy.” Here is a list of the free trade agreements that include the United States. In parentheses, the abbreviation, if any, membership, unless indicated in advance, and the date of entry into force. More than 300 free trade agreements are currently in force around the world. They come in different shapes and sizes, but the common thread is discounted rates. About 35 free trade agreements – one-tenth in total – have been signed by countries in Latin America and the Caribbean. Free trade advocates argue that by removing tariff and non-tariff barriers, the agreements allow countries to export more goods and services they produce most efficiently and to import those for which other countries have a comparative advantage, thus taking advantage of competitive prices. The end result, at least in theory, is a win-win situation, with increased efficiency and mutual benefits all around. … The July openings on the leading nations in Latin American trade with the United States took place at a time when the world and economic conference of the time in London would not give rise to major trade or customs agreements.
They have been interpreted by some parties as a response by the administration to the failure of efforts to achieve international economic cooperation on a broader scale. Although Sweden and Portugal were also invited to the conference, it was stated that the focus was really on developing closer trade relations with Latin America. Whether or not this approach has had political significance, the fact remains that Latin American countries, which export mainly raw materials and import industrial products, are the most promising ways to implement a policy of reciprocity by the United States. If discussions with the countries that started first are progressing satisfactorily, there is no doubt that other Latin American republics will be invited to conduct similar studies. The rise of populism, President Donald Trump`s “Make America Great Again” mercantilism, the escalating trade war between the United States and China, and the fear of a global recession indicate a new protectionist era.