Final answer:
The World Trade Organization (WTO) is not a regional trade agreement but a global international organization dealing with the rules of trade between nations. NAFTA, the EU, and APEC, in contrast, are regional trade agreements that focus on reducing barriers to trade among their member countries.
Step-by-step explanation:
The major regional trade agreements mentioned in the question are important tools countries use to facilitate and increase trade between them. Among the listed options, the correct answer to the major regional trade agreements that include all except one is the World Trade Organization (WTO). The WTO is not a regional trade agreement but an international body that deals with the global rules of trade between nations. Its main role is to ensure that trade flows as smoothly, predictably, and freely as possible.
The North American Free Trade Agreement (NAFTA), now updated and known as the United States-Mexico-Canada Agreement (USMCA), the European Union (EU), and the Asia-Pacific Economic Cooperation (APEC) are all examples of regional trade agreements. These agreements are designed to reduce or eliminate trade barriers such as tariffs and import quotas among member countries. They are based on the geographic proximity of member nations and include multiple countries within a particular region.
Bilateral trade agreements, like those between the U.S. and China, involve two countries and can create different dynamics compared to regional or multilateral agreements.