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Customer Benefits From International Trade Consumer Rewards From International Trade United States Joint Economic Committee

International trade permits for an massive wide variety of resources – from Persian Gulf oil, Brazilian coffee to Chinese labor – to be produced more extensively accessible. Every item becoming traded is topic to an internationally recognized classification (called Normal International Trade Classification SITC), permitting nations to clearly identify the goods and the extent they are subject to tariffs and duties. Clear categorization also facilitates the distribution of a wide range of manufactured goods that are produced in distinct parts of the globe to international markets. Wealth becomes increasingly derived via the regional specialization of economic activities. International Traffic in...