SSC
WORLD GEOGRAPHY
Question
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A trade agreement that phases out trade barriers between Canada, Mexico, and the United States (formally called NAFTA)
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NAFTA
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USMCA
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Mercosur
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European Union
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Explanation:
Detailed explanation-1: -Free trade areas are formed by groups of countries that sign agreements to facilitate trade and reduce trade barriers. The United States-Mexico-Canada Agreement (USMCA) is a trade deal that replaced the North American Free Trade Agreement (NAFTA).
Detailed explanation-2: -The USMCA facilitates the participation of U.S. and Mexican SMEs in government procurement by providing notices of intended procurement in a single electronic portal, and encouraging the conduct of procurement by electronic means, thus increasing transparency and efficiency for small and medium-sized businesses.
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