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7 Cards in this Set
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- Back
- 3rd side (hint)
The Uruguay Round
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An international trade areement
Signed by 148 nations in 1994 cut tariffs by 1/3 globally foreign applicants in professional services can't be held to higher standards than domestic ones reduced farm subsidies in Europe phased out quotas on imports from developing countries Created the WTO |
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Most favored nation
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each country signing the Uruguay Round extends to other countries its most favorable trading terms
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Free trade areas
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participating nations agree to eliminate tariffs and other trade restrictions
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customs unions
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added a uniform tariff to free trad areas for non-members
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common markets
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expand on customs unions to reconcile all government trade regulations
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NAFTA
EU APR |
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Benefits of entering foreign markets
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exploit competitive advantage
increased sales leveraging strengths achieve a competitive edge achieve tax advantages prolong product life increase profits |
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Difficulties in entering foreign markets
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political and legal influences
economic/demographic influences social/cultural factors technology control problems |
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