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A Study of the Political Implications
The Choice for the Future
The Economic Impact on the United States of
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adjustment advantage agricultural American arrangements assumed assumption Atlantic average balance of payments balance-of-payments Balassa basis benefit Britain British Canada Canadian dollar Canadian industry capital cent chemicals commodity divisions Common Market Commonwealth costs crude materials currencies devaluation developed countries direct effect dollar domestic economies of scale EFTA elasticity estimates European export prices exports and imports factors firms foreign Free Trade Area Free Trade Association gain GATT growth impact import competition increase in U.S. indirect international monetary Japan Kennedy Round machinery major manufactured member countries membership ment million nations negotiations nomic nonmember nontariff barriers Ontario output partner countries political possible potential problems protection regions relative result role semi-manufactures Table tariff tariff elimination tariff reductions tend tion trade balance trade creation trade diversion trade liberalization U.S. and Canada U.S. direct investment U.S. dollars U.S. economy U.S. exports U.S. market U.S. trade United Kingdom Wonnacott