Decades of trade deals brought only slight benefit to US economy, commission says



Doug Palmer | South China Morning Post

Nearly four decades of United States trade agreements have had only a “small, positive effect” on US economic growth and employment, the US International Trade Commission said on Tuesday in a report ordered by Congress.

Using 2017 as its base year, the ITC estimated the trade deals had increased US economic output by US$88.8 billion or 0.5 per cent. The trade pacts increased overall US employment by 485,000 full-time equivalent jobs or 0.3 per cent, based on a model that assumes the economy is at its long-run full employment level.

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