QuickTake: Trump’s Trade Plans

The video discusses the historical acceptance of free trade and its recent challenges, particularly under President Trump's administration. It covers Trump's withdrawal from the TPP and the impact on NAFTA, as well as potential new trade deals. The historical context of trade agreements post-WWII, including the formation of GATT, is explored. The video also presents arguments for and against free trade, highlighting its benefits and the criticisms it faces, such as the impact on manufacturing towns and the middle class.

What was the general consensus on free trade among economists and politicians for two centuries?

• It was widely supported and unchallenged.

• It was only supported by a few countries.

• It was heavily criticized and opposed.

• It was considered irrelevant.

Which trade agreement did President Trump withdraw the US from shortly after taking office?

• General Agreement on Tariffs and Trade (GATT)

• World Trade Organization (WTO)

• Trans-Pacific Partnership (TPP)

• North American Free Trade Agreement (NAFTA)

What was one of the reasons for the delay in NAFTA renegotiation talks?

• China's intervention

• The US Congress's opposition

• Mexico's refusal to pay for a border wall

• Canada's refusal to participate

What was the primary focus of trade agreements in the decades following World War II?

• Cutting tariffs and removing trade barriers

• Establishing new trade organizations

• Increasing tariffs

• Promoting protectionism

What is one argument made by opponents of free trade?

• It raises global living standards.

• It provides consumers with a broader range of goods.

• It underestimates social and economic impacts.

• It benefits only wealthy nations.