Since NAFTA, U.S. trade agreements have improved the U.S. balance of trade in goods with 13 out of the 17 countries involved. That bodes well for higher-standard deals like the Trans-Pacific Partnership.
Do you have to like NAFTA to want a trade deal with Asia?
Trade skeptics contend that past trade agreements failed to deliver, and they point to NAFTA as an agreement that changed our trade balance with Mexico from one of surpluses to one of deficits.
Focus instead on building the skills to take advantage of all it offers.
All sorts of data is generated by the U.S. government that could help small businesses tap into overseas markets. Here’s how to turn that information into sales.
Expanding overseas to sell your goods and services can be daunting, with a seemingly limitless number of markets to target. Yet just as Big Data is creating smarter healthcare solutions and predictive machines, trade data can be a powerful tool in searching the globe for the right customer.
But today globalization faces strong political headwinds. The very term triggers protest from the political left — it has come to be blamed for the prosperity of the top 1 percent, stagnant wages for everyone else and the excesses of Wall Street.
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Almost 10 years later, it is clear that the gamble paid off. The factory has flourished and employs more than 1,800 workers. Bombardier continues to generate profits from its Mexico plants and is expanding there.
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Intellectual property (IP) — that covered by patents, trademarks, copyrights and harder-to-protect trade secrets — is now worth as much as 75 percent of the total value of major companies. But while the importance of these assets has grown, many businesses lag in their efforts to protect IP.