Question

Which of the following statements is true of NAFTA? It overrode the local content requirements and rules of origin for products manufactured in the member nations. It eliminated all tariffs and nontariff trade barriers on goods originating from within North America. It called for stringent rules regarding government procurement practices and the imposition of countervailing duties. It introduced a common currency for trade between the U.S., Mexico and Canada.

Answer 1

B. It eliminated all tariffs and non-tariff trade barriers from within North America.

Step-by-step explanation:

The North American Free Trade Agreement was a pact formed between America, Canada, and Mexico to encourage trade between these three countries. This pact encouraged trade within these three nations by eliminating tariff barriers that would otherwise have limited trade between the countries.

NAFTA became active on January 1, 1994. NAFTA today has been replaced by another agreement known as the United States- Mexico Trade Agreement. This was made possible by President Donald Trump who believed that NAFTA was not really fair on America.