The derogation from the customs union was intended in part to take account of the creation of the European Economic Community (EC) in 1958. The EC, originally made up of six European countries, is now known as the European Union (EU) and has 27 European countries. The EU has gone beyond simply removing barriers to trade between Member States and creating a customs union. It has moved towards greater economic integration by becoming a common market – a regulation that removes barriers to mobility from factors of production such as capital and labour between participating countries. As a common market, the EU also coordinates and harmonizes each country`s tax, industrial and agricultural policies. In addition, many EU Member States have created a single currency area by replacing their national currencies with the euro. Despite this, our country should keep its economy open and use its market power to strengthen it by creating more jobs. The United States should establish a standardized model for bilateral agreements and institutionalize such a model for concluding agreements with all countries. Such a model can become the gold standard for all countries. Detailed descriptions and texts of many U.S.

trade agreements can be accessed through the Left Resource Center. Some regional trade agreements are multilateral. The most important was the North American Free Trade Agreement (NAFTA), ratified on January 1, 1994. Nafta quadrupled trade between the United States, Canada and Mexico from 1993 to 2018. The U.S.-Mexico Agreement (USMCA) came into force on July 1, 2020. The USMCA was a new trade agreement between the three countries, negotiated under President Donald Trump. Trade unions and environmentalists in rich countries have been the most active in seeking labour and environmental standards. The danger is that the application of such standards could simply be an excuse for protectionist protectionism in rich countries, which would harm workers in poor countries. In fact, people in poor, capitalist or working-class countries were extremely hostile to the imposition of such standards.

For example, the 1999 WTO meeting in Seattle was partially unsuccessful because developing countries opposed the Clinton administration`s attempt to include labour standards in multilateral agreements. The main drawback of multilateral agreements is that they are complex. This makes them difficult and tedious to negotiate. Sometimes the length of the negotiations means that it will not take place at all. A definite prognosis is that international trade agreements will continue to be controversial. A clause relating to the “government treatment of non-tariff restrictions” is necessary, as most tariff characteristics can easily be duplicated by a set of non-tariff restrictions, designed accordingly. These include discriminatory rules, selective excise or sales taxes, specific health requirements, quotas, “voluntary” import restrictions, specific licensing requirements, etc., not to mention general prohibitions. Instead of trying to list and ban all kinds of non-tariff restrictions, the signatories of an agreement require similar treatment to the processing of products manufactured within the country (for example. B steel). Examples of bilateral agreements include the Transatlantic Investment Partnership (TTIP) agreement between the United States and the European Union, which remained under negotiation after Brinton`s decision to leave the EU.

The TTIP is conceived not only as an economic project, but also as a political project to promote transatlantic relations. This would be the largest agreement ever reached by NAFTA. They do not have as much impact on economic growth as a multilateral agreement. The advantage of these bilateral or regional agreements is to promote stronger trade between the parties to the agreement. They can also accelerate global trade liberalization when multilateral negotiations find themselves in trouble. Reluctant countries that are excluded from bilateral agreements and therefore do not participate in the increase in trade they involve can then be char