What international economic agreement was set up among the United States, Canada, and Mexico which removed trade barriers and increased competition?
The international economic agreement you are referring to is called the North American Free Trade Agreement (NAFTA). NAFTA was established among the United States, Canada, and Mexico in 1994. It aimed to remove trade barriers, such as tariffs and quotas, between the three countries, and to promote economic integration and competition among them. The agreement opened up opportunities for businesses to trade goods and services more freely across borders, leading to increased economic cooperation and growth within the region.
To find the answer to this type of question, you can take the following steps:
1. Identify the countries involved: In this case, the question mentions the United States, Canada, and Mexico.
2. Search for relevant economic agreements: Use an internet search engine or consult a reliable source such as government websites or academic journals to find information about international economic agreements involving the mentioned countries.
3. Compare the characteristics: Look for agreements that match the provided description, such as removing trade barriers, increasing competition, and involving the United States, Canada, and Mexico.
4. Verify the answer: Once you find a potential agreement, verify that it is indeed the correct response by reading more about it and confirming that it fits all the criteria mentioned in the question. In this case, NAFTA is the correct agreement.
By following these steps, you can not only find the specific answer to this question but also enhance your research and analytical skills when seeking answers to other similar queries.