What's the big deal about trade deals?

By Marcie Geffner - Bankrate

During his campaign, President-elect Donald Trump promised voters that he would renegotiate existing U.S. trade deals to make them better for the country.
But what, exactly, are trade deals, and why do they matter?

The simplest definition is that a trade deal is an agreement between two or more countries to remove or lower barriers that might hinder the flow of imports and exports between them.

"The goal is to remove obstacles against the movement of products -- goods and services -- between the countries," says Pinar Cebi Wilber, senior economist at the American Council for Capital Formation, a Washington, D.C.-based research and policy advocacy organization.

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