CBO: Preferential Trade Deals Have Small, Positive Effects
The 14 preferential trade agreements the U.S. has established with foreign countries have had “relatively small positive effects” on U.S. trade and, by extension, the U.S. economy, the Congressional Budget Office says in a new report . “The effects have been small because the agreements were mostly between the United States and countries with much smaller economies and because tariffs and other trade barriers were generally low when the agreements took effect,” the report states. PTAs – which CBO defines...