Nations that embrace international trade enjoy significantly
stronger economies, achieve lower rates of hunger, and maintain
a better stewardship of the environment, according to new data
published by Heritage for the forthcoming Index of Economic
Freedom. There are, of course, other factors that contribute to
such positive trends. But international trade undoubtedly plays
a major role in determining the success of a nation and its
economy. Contrary to the claims that “unfair” foreign
competition hurts the jobs at home, the unemployment rate
actually fares better in times of higher trade deficits. Bryan
Riley and former Ambassador Terry Miller provide further
clarification: When the trade deficit increases, the
unemployment rate decreases, and vice versa. For example, in
2009, the U.S. trade deficit shrank by 46 percent, and the
unemployment rate increased by 60 percent. Many critics of trade
deals such as NAFTA and the WTO agreement argue that free trade
benefits big multinational corporations and “the rich”