Which Statement Reflects An Outcome Of The North American Free Trade Agreement Brainly

Posted by on December 21, 2020

The benefits of an economy resulting from increased exports as a trading partner improve market access. If the U.S. trading partner removes barriers through a trade agreement, U.S. exports are likely to increase, increasing U.S. production and GDP. And suppliers to a company that makes additional sales through exports are likely to increase their sales to that company, which will further increase its GDP. This would indicate that the mercantilists were right, that a nation would be well advised to limit imports. However, today, almost all economists would reject this conclusion and, indeed, many economists believe that removing its trade barriers benefits a country, whether or not the country`s trading partners remove their barriers. Adam Smith and many economists after him argue that the goal of production is to produce goods for consumption. Stephen Cohen and his colleagues put this argument as follows: “Theories of comparative advantage (classical and neoclassical) imply that trade liberalization is always beneficial to consumers in each country, that the country`s trading partners return the favour by removing their own trade barriers. From this point of view, the emphasis is on the mutual elimination of trade barriers in most real trade liberalization efforts. There is no room. [12] NAFTA has not eliminated regulatory requirements for companies wishing to act internationally, such as rules of origin and documentation obligations, that determine whether certain products can be traded under NAFTA. The free trade agreement also provides for administrative, civil and criminal sanctions for companies that violate the laws or customs procedures of the three countries.

Brainly, a Polish startup that has set up a popular network for students and their parents to advise each other and help each other with homework, has raised $80 million, a D-series that it will use both to continue building the tools it offers students and to be at home in some important emerging markets such as Indonesia and Brazil. The news comes on the heels of spectacular growth for the company, which has increased its user base from 150 million users in 2019 to 350 million today. “Brainly has become one of the largest learning communities in the world and is achieving significant organic growth in more than 35 countries,” Said Vinit Sukhija, a partner at Learn Capital, in a statement. On January 29, 2020, President Donald Trump signed the agreement between the United States, Mexico-Canada. Canada has not yet adopted it in its parliamentary body until January 2020. Mexico was the first country to ratify the agreement in 2019. In order to minimize the possible negative consequences of these trading blocs, GATT Article XXIV provides that members of a customs union or free trade agreement must remove “essentially all” trade barriers between them and that all GATT members have the opportunity to review the agreement. In the event that a member of the GATT who is not part of the customs union should impose higher tariffs on certain products than the customs union, Article XXIV requires that the member be compensated for lost trade.

Comments are closed.