At a trade meeting, country A and country B, which are trade partners, agree to remove trade barriers to stimulate economic growth. They sign agreement stating that tariffs on all goods will be removed. Some groups in country B protest the agreement because they think it will lead to excessive in some industries, which will threaten companies and jobs. Reset Next
Answers
They sign a free trade agreement stating that tariffs on all goods will be removed.
Some groups in country B protest the agreement because they think it will lead to excessive competition in some industries, which will threaten domestic companies and jobs.
In a Free Trade Agreement, trade barriers like tariffs and import quota are reduced and increased trading of goods and services happen.
If people can also move between countries in addition to free trade, it is known as an open border.
They sign a free trade agreement stating that tariffs on all goods will be removed.
Some groups in country B protest the agreement because they think it will lead to excessive competition in some industries, which will threaten domestic companies and jobs.
In a Free Trade Agreement, trade barriers like tariffs and import quota are reduced and increased trading of goods and services happen.
If people can also move between countries in addition to free trade, it is known as an open border.