Homework Help: Questions and Answers: Which of the following refers to a trade agreement that removed trade barriers between the United States Canada and Mexico?
a. NAFTA
b. TPP
c. CAFTA
d. CETA
Answer:
First, let’s understand the question: Its about which trade agreement removed trade barriers between the United States, Canada, and Mexico.
Now, let’s analysis the given options to determine the correct answer (option).
Given Options: Step by Step Answering
a) NAFTA (North American Free Trade Agreement)
- A trade agreement that aimed to eliminate trade barriers between the United States, Canada, and Mexico. It was signed in 1992 and came into effect in 1994.
b) TPP (Trans-Pacific Partnership)
- A trade agreement between several Pacific Rim countries, but it does not specifically include only the United States, Canada, and Mexico.
c) CAFTA (Central America Free Trade Agreement)
- A trade agreement between the United States and several Central American countries, not including Canada or Mexico.
d) CETA (Comprehensive Economic and Trade Agreement)
- A trade agreement between Canada and the European Union, not involving the United States or Mexico.
Final Answer
Based on the above analysis, the correct answer is:
Correct Answer: a) NAFTA
NAFTA is the correct agreement that involved these three countries and removed trade barriers between them.
- NAFTA (the North American Free Trade Agreement) was a trade agreement signed in 1992 between the United States, Canada, and Mexico.
- The goal of NAFTA was to eliminate trade barriers and facilitate the movement of goods and services between the three North American countries.
- Prior to NAFTA, there were various tariffs, quotas, and other trade restrictions in place between the U.S., Canada, and Mexico. NAFTA gradually phased out these barriers over time.
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