Question

Write a paragraph about the elements that are common in the three trade agreements (US-Australian trade agreement, Israel Free Tree Agreement, and NAFTA).

How does this reflect the goals of US economic foreign policy?

Answer: The three agreements share the common goal of making trade easier between the nations involved. One of the goals of each agreement is to expand trade and increase trade cooperation. The agreements seek to accomplish this by removing or reducing trade barriers such as tariffs. These common elements reveal that US economic foreign policy encourages growth by allowing for the ongoing exchange of goods and ideas among nations.

Answer 1

The three agreements share the common goal of making trade easier between the nations involved. One of the goals of each agreement is to expand trade and increase trade cooperation. The agreements seek to accomplish this by removing or reducing trade barriers such as tariffs. These common elements reveal that US economic foreign policy encourages growth by allowing for the ongoing exchange of goods and ideas among nations.

Answer 2

The Australia – United States Free Trade Agreement (AUSFTA) is a preferential trade agreement between Australia and the United States modelled on the North American Free Trade Agreement (NAFTA). TheAUSFTA was signed on 18 May 2004 and came into effect on 1 January 2005. On the other hand, tThe United States–Israel Free Trade Agreement is a trade pact between the State of Israel and the United States of America established in 1985 that lowered barriers to trade in some goods. And lastly, the North American Free Trade Agreement is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.