Case Study: By supporting its "America first policy," the Trump administration has assured everyone in the international community that the United States wants to reopen the discussion regarding all past trade agreement (e.g., NAFTA).

The U.S. businesses are part of a complex global supply chains, and these supply chains provides, at least partly, a great competitive advantage to these U.S. companies (e.g., low cost of labor which enable them to have cheap prices.)

1. What is protectionism?

2. The U.S., under Donald Trump's, is conducting more protectionist strategies? Provide a one example that supports this statement.

3. List three reasons why the U.S. should support protectionism.

4. List three reasons why the U.S. should NOT support protectionism.