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Chapter 29 (Multinational businessess (Advantages (fewer imports, jobs…
Chapter 29
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Globalisation
Benefits
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import materials and components from other countries - but still produce final goods in 'home' country
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Free Trade Agreements
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Examples
NAFTA: United States, Mexico and Canada (being renegotiated)
SAFTA: South Asian Free Trade Area comprising Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka.
EFTA: European Free Trade Association consists of Norway, Iceland, Switzerland and Liechtenstein.
Tariffs and quotas
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Examples
On March 1, 2018, President Trump announced he would impose a 25% tariff on steel imports and a 10% tariff on aluminum.
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