Trade enhances quality of life, economic growth
Since the beginnings of people living in social groups millennia ago, goods have been exchanged in some form. Through imports and exports, consumer choice improves, prices are reduced, business opportunities escalate, and economies grow. The essential mathematics explaining the process were worked out in the early 1800s. Pandemic-induced supply chain snarls have illustrated the interconnectedness of the contemporary world and just how much consumers rely on a steady stream of imports.
Trade is necessary for the efficient functioning of the economy. Most products that are exported from the United States have been manufactured or processed domestically, creating opportunities for companies that make, market, transport, process, create, or otherwise participate in the production chain as well as their employees. Ripple effects enhance the benefits. For goods that are imported, there are downstream impacts for inputs to manufacturing…