What are the drawbacks of free trade agreements?

What are the drawbacks of free trade agreements?

Free trade agreements can lead to job losses in certain industries, increased competition, and potential exploitation of labor.

Can you explain how it affects local businesses?

Local businesses may struggle to compete with larger, international companies that benefit from lower tariffs and regulations.

Are there any environmental concerns associated with free trade?

Yes, free trade can lead to environmental degradation as countries may lower standards to attract business, resulting in pollution.

What about the impact on consumers?

Consumers may benefit from lower prices and more choices, but they might also face lower quality products and less local support.

How do these agreements affect developing countries?

Developing countries may gain access to larger markets, but they can also face challenges like dependency on foreign markets and exploitation.