Question 5 1 pts What is true about trade agreements? ? One of the main issues related with regional trade agreements is related with the Rules-of-Origin. Free-trade areas have complex rules of origin that specify what type of goods can be shipped duty- free within the free-trade area. ? A free-trade area is a group of countries agreeing to eliminate tariffs (and other barriers to trade) among themselves. One example is the USMCA. ? The main difference between a Custom Union and a Free-trade area is the existence of a common currency in the custom union. ? Besides the internal trade incentives, a Customs union also agree to a common schedule of tariffs with each country outside the union.
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