A series of FTA (Free Trade Agreements) were signed between the United States and Latin American Countries such as Peru, Costa Rica and Chile.
Arguments in favor:
- It eased the access of American business into these foreign economies. Aiding them in their global expansion strategies.
- US consumers would have access to high-quality products from other countries. This dynamizes the economy.
Arguments against:
- The entrance of goods from foreign countries may har the local industry, as American producers cannot compete against the cost structure of their foreign counterparts, which is considerably lower.
