Asked by Haley Adams on May 09, 2024
Verified
The North American Free Trade Agreement (NAFTA) :
A) took effect in 1984.
B) inhibited globalization after it came into effect.
C) added new tariffs to the existing tariffs on U.S. exports.
D) reduced trade barriers among United States, Canada, and Mexico.
North American Free Trade Agreement
A trade agreement eliminating tariffs and other trade barriers between the United States, Canada, and Mexico.
Tariffs
Taxes imposed on imported goods and services, which can affect trade dynamics between countries.
Trade Barriers
Measures implemented by governments to regulate or limit international trade, including tariffs, quotas, and embargos, to protect domestic industries.
- Grasp the impact of international agreements like NAFTA on global trade and economic integration.
Verified Answer
CB
Courtney BlackburnMay 16, 2024
Final Answer :
D
Explanation :
NAFTA, which took effect in 1994, was designed to reduce trade barriers among the United States, Canada, and Mexico, thereby increasing trade and investment between these three countries.
Learning Objectives
- Grasp the impact of international agreements like NAFTA on global trade and economic integration.