Which statements describe the goals of the US-Australian trade agreement? Check all that apply.
to free the nations of their obligations under the WTO agreement
to encourage more open communication on commerce matters
to improve each nation’s living standards
to expand bilateral investment and trade
to increase tariffs and import regulations
The correct statements that describe the goals of the US-Australian trade agreement are:
1. To encourage more open communication on commerce matters – This goal focuses on enhancing dialogue and cooperation regarding trade issues.
2. To improve each nation’s living standards – By promoting trade, both countries aim to boost economic growth, which can lead to improved living standards for their citizens.
3. To expand bilateral investment and trade – One of the primary objectives is to increase trade and investment opportunities between the two nations.
The other statements are not aligned with the typical goals of such trade agreements:
– To free the nations of their obligations under the WTO agreement – Trade agreements typically complement, rather than nullify, WTO obligations.
– To increase tariffs and import regulations – Free trade agreements usually focus on reducing tariffs and barriers to trade, not increasing them.
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