Which international trade organization or agreement did away with tariffs on goods traded among the member countries?

Question

a. International Monetary Fund (IMF)
b. World Bank
c. North American Free Trade Agreement (NAFTA)
d. World Trade Organization (WTO)

Answer 1

The correct answer is: c. North American Free Trade Agreement (NAFTA).

NAFTA, which was in effect from 1994 until it was replaced by the United States-Mexico-Canada Agreement (USMCA) in 2020, aimed to eliminate tariffs on goods traded among the member countries: the United States, Canada, and Mexico.

While the World Trade Organization (WTO) also works to reduce trade barriers globally, it does not specifically eliminate tariffs among member countries in the same way that NAFTA was designed to do among its specific member countries.