Reference no: EM132863940

Reflection Assignment - The Effects of Trade Agreements

Understanding the effect of international trade agreements is a key part of determining the feasibility of international trade. They have the effect of giving nations, and their multinational companies, access to markets that would otherwise not be available. In this assignment, you are to:

1. Choose two countries (i.e. Canada and USA) Choose USA and South Korea

2. Summarize the trade statistics (exports and imports) between the two countries prior to the agreement being put into place.

3. Explain the trade agreement that exists between the two countries. It is essential to provide a summary of the key points of the agreement (what markets will experience more liberalization or become more open), along with when the agreement was ratified (or accepted) through the political process (when did it "go live"?).

4. What were the "politics" leading up to the ratification of the trade agreement. Try and find examples from industries that were going to be positively and negatively affected.

5. Summarize the trade statistics (exports and imports) between the two countries in the year(s) following the agreement (focus on those industries that were the most important in the trade agreement).

6. What can you conclude about the effects of the implementation of the trade agreement you selected on both countries.