The North American Free Trade Agreement Is An Example Of Quizlet

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Posted by lapi | Posted in Uncategorized | Posted on 11-10-2021

The NORTH AMERICAN FREE TRADE AGREEMENT (NAFTA), which entered into force in 1994 and created a free trade area for Mexico, Canada and the United States, is the main feature of the bilateral trade relationship between the United States and Mexico. As of January 1, 2008, all tariffs and quotas on U.S. exports to Mexico and Canada were eliminated under the North American Free Trade Agreement (NAFTA). The WTO agreements require the IMF to consult when discussing foreign exchange reserves, balance of payments, and exchange rate regimes. These agreements allow, for example, countries to apply trade restrictions in the event of balance of payments difficulties. The WTO`s Balance of Payments Committee bases its assessments of restrictions largely on the IMF`s finding of a member`s balance of payments situation.

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