$1 Trillion Trade Agreement in Place

February 27, 2017 10:34 AM
 
 

A $1 trillion free trade agreement just took effect.

The Trade Facilitation Agreement (TFA) is designed to cut through red tape and help solve problems like border delays and transportation bottlenecks.

The deal includes all 164 members of the World Trade Organization (WTO), including the United States. It was approved during the Obama administration.

The WTO says it will cut 1.5 days off the time needed to import goods and cut 2 days off the time needed to export products.

WTO’s director general says it’s the biggest reform of global trade this century. Officials also say the agreement will cut the cost of shipping goods to other countries by 14 percent.

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Comments

 
Spell Check

jack
aberdeen, SD
2/27/2017 09:38 PM
 

  I wish they would do a trade deal that cut our deficit by 1/2 trilion/year maybe we need to give china and mexico a gift card to store america so they can buy more of our products instead of paying them in cash and they then go shoping elsewhere and we get the big trade deficit. We need that money to pay our health bills and pay down part of our debt so we have more capacity for our next major downturn.

 
 

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