Based on information available, as measured in 2008, about 60 percent of U.S. trade and 60 percent of European business is intra-industry trade.
<h3>What is intra-industry trade?</h3>
The intra-industry trade is a term used in describing the commercial activities that involve the exchange of related products about the same industry.
The intra-industry trade is common in international markets where related features are exchanged between countries.
Based on the information released in 2008, the intra-industry trade takes a massive part of the USA and Europe trade, with 60 percent each.
Hence, in this case, it is concluded that intra-industry trade is a common phenomenon in the international market.
Learn more about Intra-industry trade here: brainly.com/question/8495793
