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emmasim [6.3K]
2 years ago
6

Illl give away as many points

Advanced Placement (AP)
1 answer:
GarryVolchara [31]2 years ago
3 0

Answer:

What are the major regions and industries that the agreement would positively affect?Major regions this agreement would positively affectis Europe and the United States.

What are some of the current tariffs or barriers to trade?Specific tariffs.

Ad valorem tariffs.

Licenses.

Import quotas.

Voluntary export restraints.

Local content requirements

How will consumers benefit from this trade agreement?A central tenet of international economics is that lowering trade barriers increases welfare. Trade agreements between countries lower trade barriers on imported goods and, according to theory, they should provide welfare gains to consumers from increases in variety, access to better quality products and lower prices.

Explanation:

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The correct answer is C) reduce the economic hegemony of the global north.

The emergence of the BRICS (Brazil, Russia, India, China, South Africa) countries has the potential to most likely reduce the economic hegemony of the global north.

For many years the northern hemisphere nations such as Western Europe, the United States, and Canada have dominated trade and the economic world in general.

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