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The North American Free Trade Agreement Quizlet Economics


10.11.21 Posted in Uncategorized by

“The USMCA will give our workers, farmers, ranchers and businesses a high-level trade agreement that will lead to freer markets, fairer trade and robust economic growth in our region. It will strengthen the middle class and create good, well-paying jobs and new opportunities for nearly half a billion people who call North America home. NAFTA has been complemented by two other regulations: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Laboratory Cooperation (NAALC). These agreements should prevent companies from moving to other countries to take advantage of lower wages, more flexible health and safety rules for workers and more flexible environmental rules. During the election campaign, President Donald Trump promised to repeal NAFTA and other trade agreements that he considered unfair to the United States. On August 27, 2018, he announced a new trade agreement with Mexico to replace him. The U.S.-Mexico trade agreement, as it has been called, would maintain duty-free access for agricultural products on both sides of the border and eliminate non-tariff barriers, while encouraging more agricultural trade between Mexico and the United States and effectively replacing NAFTA. NAFTA has not eliminated regulatory requirements for companies wishing to act internationally, such as. B rules of origin and documentation requirements, which determine whether certain goods may be traded under NAFTA.



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