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Activity 2


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Bibliografía: * eHow (s.f.) Ma Wen Jie, What Are the Costs of Free Trade?. Retrieved on September 07, 2015. From: * Trade Link (August 2008) México elimina los obstáculos a la importación de medicamentos. Retrieved on September 07, 2015. From: * Investopedia (s.f.) Free Trade. Retrieved on September 07, 2015. From: |

1. Mexico has always portrayed itself as one of the most pro-trade countries in the world. For instance, we have a free trade agreement with the United States and Canada, and another one with the European Union. We are active members of the WTO, the OECD, the APEC, the Pacific Alliance, and have also signed multiple bilateral agreements with many nations, most of them deemed “strategic”. Answer the next two questions in your own words:

What are the potential costs and benefits of adopting such a free-trade strategy?
International trade allows a country to specialize in the manufacture and export of products that it can produce efficiently, and in the meantime, to import products that can be produced more efficiently in other countries.

Some benefits of adopting a free-trade strategy are: * Tariff. One of the main objectives is to remove tariff barriers in the trade of goods and services, thus allowing that a person exports their products to another country non-dutiable. * Rules of Origin. In reason that only products that are original of the countries members of the free-trade strategy can be imported and/or exported with the benefits of the trade. * Settlement of disputes. Bases and commitments are established for the settlement of disputes in an expeditious and fair way, where arbitration is the common denominator. * Values. There

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