ECONOMICS
TRADE EXCHANGE AND INTERDEPENDENCE
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
North American Foreign Trade Agreement
|
|
|
North American Free Trade Agreement
|
|
|
North American Farmers Treaty Agreement
|
|
|
North American Financial Tariffs Agreement
|
Detailed explanation-1: -The North American Free Trade Agreement (NAFTA), which was enacted in 1994 and created a free trade zone for Mexico, Canada, and the United States, is the most important feature in the U.S.-Mexico bilateral commercial relationship.
Detailed explanation-2: -North American Free Trade Agreement (NAFTA) established a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAFTA immediately lifted tariffs on the majority of goods produced by the signatory nations.
Detailed explanation-3: -The agreement came into force on January 1, 1994. The goal of NAFTA is to eliminate all tariff and non-tariff barriers of trade and investment between the United States, Canada and Mexico.
Detailed explanation-4: -The agreement originated from the free trade agreement the United States and Canada signed in 1988. NAFTA eliminates almost all barriers to trade and investment between the three North American countries and includes provisions for the protection of intellectual property rights.
Detailed explanation-5: -Tariff elimination for qualifying goods. Establishment of standards. Elimination of non-tariff barriers. Supplemental agreements. Protection of intellectual property rights. Trade dispute resolution. 09-Jan-2023