And over time, increased trade has made the United States more productive and has contributed to large increases in Americans standard of living.[6] Since the end of World War II, growth in annual real global trade has outpaced GDP growth, growing on average 1.5 times faster.[7] Much of this increase in trade can be explained by reductions in barriers to international exchange, such as tariffs and quotas.[8] Post-war trade liberalization has led to widespread benefits, including higher income levels, lower prices, and greater consumer choice.[9] Estimates of these post-war gains from freer trade range up to $10,000 per household in the United States.[10] The positive, long-term economic effects of trade increased competition, innovation, productivity, employment, wages, and output provide benefits that outweigh the short-term transition costs trade can cause
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