These trading blocs, such as USMCA, MERCOSUR, and CAN, enhance economic ties, fostering growth and stability in the Western Hemisphere through increased cooperation and regional integration.
In the Western Hemisphere, several trading blocs facilitate economic cooperation and integration among member countries. The most notable ones include the North American Free Trade Agreement (NAFTA), which evolved into the United States-Mexico-Canada Agreement (USMCA) in 2020.
This pact promotes trade among the United States, Canada, and Mexico. Additionally, the Southern Common Market (MERCOSUR) plays a significant role in South America, fostering economic collaboration among its member countries, including Brazil, Argentina, Uruguay, and Paraguay.
The Andean Community (CAN) is another regional bloc in South America that aims to promote integration and development among its member nations, such as Peru, Colombia, Ecuador, and Bolivia. These trading blocs contribute to increased trade flows, economic growth, and regional stability within the Western Hemisphere.
Complete question:
What are the trading blocs in the Western Hemisphere?