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International Trade
Most economists would agree that trade has been a net benefit to the world. The 1947 Genearl Agreement on Tariffs and Trade (GATT), and subsequently the formation of the World Trade Organisation in 1995, lowered tariffs and led to expanded trade and higher standards of living around the world.
Trade deficits (negative trade balances) were not a problem until the mid-
Tariff barriers (a tax on imports) are relatively low in most countries.
Medical tourism is growing because health costs are lower oversees, even including the costs of travel.
U.S. public sentiment about lowering trade barriers is mixed, and some even oppose helping displaced workers.
Buicks are very popular brand of luxury cars in China, as they represent a unique American luxury car to Chinese consumers. In 2015, over 1 million Buicks were sold in China, while only 250,000 were sold in the United States.
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