Question

________, the second largest common market agreement in the Americas, calls for a common market that would eventually allow for the free movement of goods, capital, labor, and services among the member countries, with a uniform external tariff, with no central institutions.

Answer 1

North America Free Trade Area Agreement: NAFTA

Step-by-step explanation:

NAFTA is a trade agreement between the United States, Canada, and Mexico. NAFTA came to effects on the first of January 1994. It is the world's largest agreement in trade volumes but the second largest in geographical coverage.

The trade treaty seeks to remove all the trade barriers between the countries. Other agreements in the deal include

1. Establishment of standards. The three countries agreed to toughen safety, health, and industrial standards to the highest levels.
2. Removal of non-tariff barriers by 2008
3. Enhance telecommunications trade.
4. Reduce textile and clothing trade barriers.
5. Tariff reduction for motor vehicles and auto spare parts