International Trade And Finance Speech

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International Trade and Finance Speech

As a speaker of the house, I would like to brief all about the current status of United States Economy. I will highlight all major aspects that are needed to be covered in order to get acknowledged about the country's macroeconomic factors. The United States believes in a system of open trade, to which the principle of legality. Since the Second World War, Presidents of the United States argued that participation in world trade offers American producers access to a broad foreign markets and gives American consumers the possibility of greater choice when buying products. Recently, leaders of America noted that competition from foreign producers also allows maintaining low prices for many commodities, thus softening the impact of inflation.

Americans say that free trade brings benefits and other nations. Economists have long believed that trade allows countries to focus on the production of those goods and services, high quality which these countries can provide the most effective. Thus, they increase the productive capacity of the entire world community. Moreover, Americans are convinced that trade promotes economic growth, social stability and democratic development in individual countries, but also that this kind of economic activity contributes to global prosperity, the rule of law and ensuring peace in international relations (Treeck 2009, 907 - 944).

Open trading system requires countries to provide fair and non-discriminatory market access to each other. In pursuing this goal, the United States stands ready to provide other countries favorable access to their markets, if these countries do likewise, reducing their own barriers to trade through the conclusion of multilateral or bilateral agreements. Despite the fact that efforts to liberalize trade traditionally focused on reducing tariffs and certain non-tariff barriers to trade in recent years, new measures to ensure that this liberalization. Americans, for example, believe that the trade laws and trade practices of each country must be transparent. In other words, everyone should know the rules and have an equal chance to participate in the competition. In the nineties of XX century the United States and the Organization for Economic Cooperation and Development (OECD) have made another step towards greater transparency by agreeing among themselves to ban the practice of granting trade benefits to foreign government officials.

The United States also often insist that foreign countries have deregulated their industries and have taken steps to ensure such a situation in which the remaining regulations would be transparent, were not to discriminate against foreign companies and would be consistent with international practice. American interest in deregulation is partly due to concern over the fact that some countries may use regulation as an indirect means of avoiding their markets to exports from other countries.

The relatively low income ceiling for unemployment contributions in the USA tends to raise the cost of employing low-paid, poorly qualified workers in relation to higher salary earners; contribution and benefit ceilings are much higher in Western Europe. The low ceiling means that contributions take on the character of fixed costs per ...
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