Question
What do you understand by NAFTA? Discuss its role in terms of terms of trade Context.
Answer :
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NAFTA is a treaty designed to liberalize trade and investment activity in North America. The trade agreement sets timetables for significant reductions in duties and a steady elimination of tariffs between the three trading partners (Canada, the United States, and Mexico). NAFTA is playing an important and vital role in increasing consumer choice, improving
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