1. What is a trade agreement and how does it influence global trade?

What are some of

the largest trade agreements in the world?
A trade agreement is an enforceable treaty between two or more countries that happens
to envolve the development of goods and service movement between the countries with
the elimination of trade barriers, establishment of terms of trade, and encouragement of
foreign investment. Trade agreements are either multilateral or bilateral.
Some of the largest trade agreements in the world include NAFTA and EU
2. Why was the Euro currency created?
The Euro currency was created after the development of EU - the European Union. The
euro was implemented so that the countries in EU could have easy trade and all have
the same currency.
3. Explain how NAFTA has been both good and bad for Canada.
NAFTA is good for Canada as it creates higher paying jobs in education, engineering
anf banking sectors. It also allows more of a free flow of goods and services across
North America, providing more access to raw materials, talent and technology. The
trade has also tripled between the three members since NAFTA inception. The
disadvantages of NAFTA include that Canadian companies are being sold to foreign
investors which leads the business to not stay at home.
4. Explain the differences between NAFTA and CUSMA.
The difference between NAFTA and CUSMA
CUSMA is the new NAFTA and is now called NAFTA2.0. CUSMA adds certain
additions to the treaty regarding indegineous people, but other than that it is very similar
to NAFTA
5. Explain how the adoption of the euro is good for a Canadian business exporting to
Europe.
The adoption of the euro is good for a canadian business exporting to europe as the
exchange rates are in favour for Canada, therefore the adoption of the Euro is good for
Canadians.
● You will need to use the information in order to develop an answer. Use your
peers to discuss some ideas.