Question

2. Search on current magazines, journals and newspapers to obtain an update on what are the main issues concerning the status of the following regional agreements: NAFTA, BREXIT, and TPP 3. Summarize in at least 2-page the current benefits and disadvantages of each agreement for the regions involved

Answer 1

CO Q) Search on current magazines, journals and newspapers to obtain an update on what are the main issure concerning the status of the following regional agrement & ?NAFTA , BREXIT and TPP. > summarize the current benefit and disadvantages of each agreement for the regions involved. ANSWERI Nouth American Free Trade Agreement North American Free Trade Agreement NAFTA) is an agreement among the united states, Canada, and Messico designed to remove tariefs barriers between the three countries.

Advantages of NAFTA: 1) NAFTA lowered the price of many good. > Advocatia ar tre trade generally point to lower price for consumer goods our one of the main benefits that lowered tariff can bring to US citizens. > Lower prices are good for American's budgets and increase our purchasing poucer. 2) NAFTA was good for GDP: > According to the council on Foreign relations CCFR), NAFTA added 0.5%, or around 80 billion dollars to the U.S. GOP once implemented s opponents may criticize the distribution of those extrra billions, but looked at on the mauro level, NAFTA Seems to have grown the vis economy. 3) NAFTA was good for diplomatic reason One argument that's often cited an

favour of free trade in general and NAFTA in particulan us that it strengthens the diplomatic tice between countries. Post- NAFTA, it u argued, the heads of state of the U.S. Canda and mesico meet more for quentely and put a higher value on their diplomactic relations. W NAFTA increased exports and created regional production block > contain vectors of the US economy lost out as a result of NAFTA I but other rectons got a boost, y some analyst say, has helped North America compete with Asian manufacturing powerhours 'Dis Adrean tages: > NAFTA LED TO The lour of was Mane- facturing jobs. - NAFTA heart the economic prospects of macican small farmers and small buriness Ouimers. NAFTA Suppressed wager for non-college educated workers in the US

> NAFTA'S environmental and labour Standards could have been higher. BRITISH EXIT > Brescit is an abbreration too" British Rout", referring to the UK's decision. Ph. a referendum to leave the European Union. > Uk and EU negotiations agreed on a new olivore deal. The main difference from Mays deal ů that the Irish backstop clause has been replaced with a new arrangement Advantages of BREXIT: . A ho-deal Breait would see the uk låre the free trade zone, do away with EU regulations, and eradicate the need to accept the free movement of people - This would provide the oppurtunity to negotiate new trade deals with

other countries. > staying in the single market would make trading eachier. Nany commentators have seated that it is within the interests of the city and the Uk as a whole to maintain free trade with EU. > Learing with a deal an place would also prevent the uncertainity that surrounds a no- deal Brexit. Disadvantager & Brexit: > The EU in Britains biggest trading partner and there's no guarantee the Uk will get better torade deals once it learer. > Adding to this, the Uk could still and up being forced to comply with EU lausa and regulations ah is the coure with Norway and Iceland, s staying inside the single market and austome union is segreated by many as a betrayal of the referendum result e By staying an the single market and autore union, the Uk would be liable

to EU rules and degilation regarding the fore movement as goodle, services and people aurora borders. Plus, it could put the Uk in the dangerous position of still having to accept Eu economic and political policy, while at the same time denying the Uk a neat at the negotiating table. "TRAS - PACIFIC PARTNERSHIP The TPP represents a trade agreement between 12 countries geographically clocated around the pacific Rim. Potential TPP members represent a third of all global GDP at approximately 925 trillion annually, and a third of all global trade. In addition to the united state. The TPP nations Include: Canada, Moxico, Japan, Australia and seven more

Pros of TPP > Individuals would have more Spending powon with the TPP in place > It would reduce the influence of tarriffs an global trade > Economics at every level would grow culth the TPP. > There were cereld life protections put into place with the Trans pacific partnership. s The TPP included several environmental protection clauses in the agreement. > There wer IP protections put into place with the TPP. It would improve technology acces throughout the region. > There would be fewon Paruer with honnover thoonk to the TOP

Come of TPP: > The US withdrew because it reduced their oxorall negotiating power. > The Top could have encourged the rich to get recher at the expense of the poon. > Many of the benefits found on the TPP were based on American participation. > Consumers would pay the higher cost of coopyright protections. > There is more to cur on the front end of the suppoly chain with the TPP. > The reduction in Tare eff& would reduce the income levels of each government