In: Economics
What, if anything, should the U.S. have done differently with respect to its policies toward these trade agreements in the past and why? NAFTA, PNTR for China, and WTO membership for China.
The United State has done differently with respect to its policy
towards the trade agreements in the past.
The trade agreements are related to NAFTA, PNTR for China and WTO
membership for China.
Now the United State is most strict towards the policies and plans
which the United State initiated for the international and global
trade agreements.
For NAFTA ( North American free trade agreement) the United State
took the step and initiative to strict the trade policies in
comparison to the period when it was established because no days
the trade relationship is more complicated in this competitive
scenario.
For PNTR ( permanent normal trade relations) the regulations and
administration under the permanent normal trade relations the steps
taken by the US is to make some legal changes as per the normal
trade relations to initiate all the necessary steps towards the
agreement related to the policies which initiated the trade
agreements based on cost and potential benefits.
For China, it is necessary to equate trade based policies as per
international trade relations.
WTO membership for China.
The entry of China in the world trade organisation is a lengthy
process and there were lots of agreements between China and US as
per the trade relations on the global level and the Global
competition to fulfil the optimum benefit in the trade-off visible
and invisible articles and the maximum benefit is for the traders
of both the countries and it is also mentioned to take the proper
initiative in a positive manner to enhance the Global market with
positivity.