Foreign Policy Trade With Foreign Nations - 854 Words

Foreign Policy – Trade with Foreign Nations The policy issue I have chosen is trade with foreign nations. The approach that the United States government has adopted to address foreign trade is varied depending on the nation in question. For some nations, the United States has what is called a Free Trade Agreement which is an â€Å"arrangement among two or more countries under which they agree to eliminate tariffs and nontariff barriers on trade in goods among themselves† (Cooper, Free Trade Agreements: Impact on U.S. Trade and Implications for U.S. Trade Policy.). This means that the countries within these arrangements are agreeing not to place taxes on imports or exports and to drop other restrictions. Some countries that are included in Free Trade Agreements with the United States are Israel (since 1985), Canada (since 1989), and Mexico (since 1994) (Cooper, Free Trade Agreements: Impact on U.S. Trade and Implications for U.S. Trade Policy.). Canada and Mexico are included in a special Free Trade Agreement known as th e North American Free Trade Agreement or NAFTA which was created in January 1994. Although these nations are able to trade freely with the United States, there are some that are not included in Free Trade Agreements. The countries that work under these other forms of trade agreements are those that have not agreed to be free from tariffs or other barriers. In fact, in 1934, the Reciprocal Trade Agreements Act gave the power to set tariffs to the PresidentShow MoreRelatedForeign Policy Is Shaped Based On The Best Interests Of The Country1600 Words   |  7 PagesForeign policy is shaped based on the best interests of the country. When establishing foreign policies, the focus will be on advancing the goals of the nation. Foreign policy guides how America conducts business as well as develops political, and social relations with other countries. 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