Trade Agreements

Which group primarily helps settle trade disputes?

World Trade Organization

Why were free trade zones created in China?

to attract investments by foreign countries

International trade organizations promote free trade by encouraging countries to

remedy trade surpluses.

One primary purpose of the European Union is to

create a common market.

What is the main role of the US Import Administration?

enforcing conditions of trade agreements

The simplest form of a trade agreement is a … agreement created between two countries.

direct

How do trade agreements of international organizations affect trade?

by encouraging countries to balance imports and exports

A specific territory or zone that has laws and regulations different from the rest of the country is called a(n)

economic zone.

Why do countries most often create trade agreements?

to reduce tariffs

What is one stated purpose of the World Trade Organization?

to monitor trade policies of many countries

The Free Trade Agreement Tariff Tool allows US businesses to

access tariff rates when planning to export.

What did President Ronald Reagan believe about economic growth?

Increased production and fair trade would help the economy.

Trade agreements are helpful because they allow countries to

trade for necessary goods.

Which group works to help members establish internal political stability?

Association of Southeast Asian Nations

With which statement would President Bill Clinton most likely have agreed?

Free trade must be carefully monitored.

Which best describes ASEAN?

a regional organization promoting growth in Southeast Asia

What can be a result of free trade? Check all that apply.

trade imbalances lower economic growth exploitation of workers

Trade agreements can cause jobs to go to countries that provide those jobs

efficiently