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New US Trade Agreements Could Grow the Economy
Truth on the Market
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The Trump administration earlier this month announced a new trade agreement between the United States and the United Kingdom. This initial pact should be a harbinger of additional “win-win” American trade deals with the UK and other countries. Such agreements, besides reducing tariffs, could emphasize the mutual elimination of anticompetitive market distortions (ACMDs). Eliminating ACMDs would provide a far greater spur to economic growth than mere tariff reductions.