Why Free Trade

Globalization is good for America and good for growth. North and South Carolina are leading by example as states open for international business.

Foreign Direct Investment Means Jobs for the Carolinas
Employment of Majority-Foreign-Owned U.S. Affiliates by industry Industry (2013)

North and South Carolina both rank in the top 10 in the country in terms of jobs supported by foreign direct investment. Employment by foreign-owned companies has grown 25 percent in just the last five years, and among these jobs, manufacturing makes up greater than or equal to 50 percent of total jobs as demonstrated in Figure 1.

As do Exports...

Last year, North and South Carolina exports amounted to just over $30 billion each, supporting over 300,000 jobs between the two states. Of these exports, nearly half of North Carolina's go to countries with which the U.S. has Free Trade Agreements, as do over a third of South Carolina's. Canada and Mexico (NAFTA trading partners) are among both states' largest export destinations.

... and Imports.

Yes, despite common misconceptions, imports support millions of American jobs. U.S. companies import parts for the final "Made-in-America" products, and imports of finished consumer goods support U.S. jobs at ports, in freight, and in wholesale and retail trade, just to name a few.

Low Cost Imports Help Consumers Save

Today, consumers have access to more goods than ever before and can afford to buy more of those goods than they ever could: more "bank for your buck." Saving is key to long-term sustainable economic growth, and thanks to lower consumer costs, Americans can save more of their hard-earned money. This allows entrepreneurs and business owners better access to credit and spurs investment, creating jobs and growing the economy.

Increased International Competition Drives Innovation

Opening up international markets brings new competitors for American businesses. While some resent this fact, increased foreign competition lead to lower prices for consumers and forces companies to become more efficient and to adapt to shifting demand. This means businesses have more incentive to innovate and develop high-quality products.