Pros and Cons of Free Trade SPEAKER 1: America has entered into many free trade agreements, and is considering more. However, free trade remains controversial in the United States. Let's take a look at some of the pros and cons of free trade. Free trade Increases competition. [TEXT ON SCREEN: Pros] SPEAKER 2: With no import tariffs, companies from all over the world can compete on an equal footing. This increase in competition gives consumers more choices and can help lower prices. This benefits everyone. SPEAKER 1: Free trade allows for more opportunity to expand. With no tariffs, entrepreneurs and businesses can expand their business and export their products overseas, bringing money back to the local economy. SPEAKER 2: Free trade can create jobs. Free trade allows overseas companies to more easily open up operations locally, and it can allow local companies to expand their market overseas, allowing them to hire more people both locally and overseas. [BUZZER] [TEXT ON SCREEN: Cons] SPEAKER 1: Free trade leads to jobs moving overseas. When companies don't have to pay import tariffs, it eliminates much of the incentives that discourage them from moving manufacturing jobs overseas to cheap labor markets. SPEAKER 2: Free trade agreements are often written with heavy corporate protection and little worker protection. NAFTA includes provisions that allow companies to sue countries when regulations cost them profits. The TPP would also include a similar provision. SPEAKER 1: Free trade can lead to labor and environmental abuse. Under free trade, companies will be far more likely to move production to countries with poor labor standards and environmental protections, where they will exploit the workforce and pollute the environment.