Global diversity and dispute resolution: the constitutionality of traiffs Under NAFTA

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nyanrzv97

Business Finance

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Follow all the instructions that are listed in the attached file. Regarding to chapter 54, it could be found in textbook called business law 10th edition cheeseman

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Running head: CONSTITUTIONALITY OF TARIFFS

Constitutionality of Tariffs under NAFTA
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CONSTITUTIONALITY OF TARIFFS

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Constitutionality of Tariffs under NAFTA
The North American Free Trade Agreement is a free trade agreement comprising of three
countries namely United States, Canada, and Mexico. It was put into action in 1st January 1994
and its objective was to eliminate trade barriers that were present between the three countries
(Ackerman & Golove, 1995). These barriers included high tariffs charged on goods being
imported from member states. It also sought to facilitate easier movement of goods and services
across the member countries. Imposing tariffs has both advantages and disadvantages. When
tariffs are imposed on imported goods, their prices tend to increase which is an advantage to
similar locally produced goods. The effect of these tariffs is to protect local industries from
competition from foreign companies. This in turns serves to ensure that jobs are protected as the
local companies will still be operational. Due to the elimination of tariffs as enshrined in the
NAFTA deal, the state of North Carolina has been...


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