Question

In: Economics

What, if anything, should the U.S. have done differently with respect to its policies toward these...

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.  

Solutions

Expert Solution

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.


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