Final answer:
The statement is true; the United States and the EU maintain one of the world's largest trading relationships. The U.S. has substantial internal trade, and its exports to GDP ratio is about half the world average, indicating lower trade levels compared to GDP.
Step-by-step explanation:
True or False: The United States and the EU have the world's largest trading relationship? This statement is true. The United States and the European Union (EU) do indeed have one of the largest trading relationships in the world, despite the fact that the United States has a large domestic economy, which contributes to a substantial volume of internal trade. Comparatively, countries like Sweden have a high level of trade due to its smaller economy, many nearby trading partners, and a history of foreign trade. On the other hand, economies such as Brazil and India have sought to inhibit trade in recent decades, leading to lower levels of trade. The ratio of exports to GDP for both the United States and Japan is about half of the world average, indicating that these countries have lower levels of trade when compared to their GDP.