ECONOMICS
ECONOMIC DEVELOPMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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10 years old
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2 decades old
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8 years old
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3 decades old
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Detailed explanation-1: -The North American Free Trade Agreement (NAFTA) was implemented in 1994 to encourage trade between the U.S., Mexico, and Canada . NAFTA reduced or eliminated tariffs on imports and exports between the three participating countries, creating a huge free-trade zone.
Detailed explanation-2: -The pact effectively created a free-trade bloc among the three largest countries of North America. NAFTA went into effect in 1994 and remained in force until it was replaced in 2020.
Detailed explanation-3: -The United States commenced bilateral trade negotiations with Canada more than 30 years ago, resulting in the U.S.-Canada Free Trade Agreement, which entered into force on January 1, 1989. In 1991, bilateral talks began with Mexico, which Canada joined. The NAFTA followed, entering into force on January 1, 1994.
Detailed explanation-4: -The Hanseatic League secured trading privileges and market rights in England for goods from the League’s trading cities in 1157.
Detailed explanation-5: -Clinton signed it into law on December 8, 1993; the agreement went into effect on January 1, 1994.