Trade OrganizationsFTAThe North American Free Trade Agreement, NAFTA, created a trilateral trading bloc in North America. It is between the United States, Canada and Mexico. It was established on January 1, 1994 to increase exports, investments, employment and trade between the three countries concerned. He lowered tariffs, raised real wages and created jobs. NAFTA has advantages, but also disadvantages. Although he lowered tariffs, he did not lower regulations, and Mexican workers benefited less than expected. In my opinion, I believe NAFTA was a good thing. Although it has some drawbacks, the good outweighs the bad as it has increased investment, real wages and created employment opportunities. European Union The European Union, EU, is a unique political and economic agreement between 28 countries in Europe. The countries concerned are: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania. , Slovakia, Slovenia, Spain, Sweden and United Kingdom. Overall, the main objective of the EU is "to promote social and economic growth, to develop an area of ​​freedom, security and justice, as well as to maintain, construct and improve European law". There are two aspects that every country must consider before entering the EU. Some benefits include free trade, no tariffs, freedom of movement of citizens within member countries, a common currency, and regulations preventing larger countries from controlling smaller ones. While these factors are all very beneficial, there are also some downsides to consider. There is no common language, which makes communication difficult. Additionally, requirements to... middle of paper ......cial because it provides a greater variety of goods and services to consumers, protects domestic industries and employment, and prevents "dumping ". While this is beneficial in this regard, it also has disadvantages. This increases the price of goods, damages the trading system and other countries retaliate, which in turn harms the import and export sections. MERCOSUR The Latin American Common Market, also known as MERCOSUR, was created to promote the free movement of goods, services, and people among the states that are part of the organization. The countries fully involved are Argentina, Brazil, Paraguay and Uruguay. Other countries that do not have full voting rights or full access to full membership in the market include Chile, Bolivia, Colombia, Ecuador and Peru. These countries are not obliged to impose a common external tariff. Paraguay was suspended as a full member.