Instructions: Identify the Following

question 21

Essay

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Valley Forge

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Definitions:

NAFTA

The North American Free Trade Agreement, which was a trade deal between the United States, Canada, and Mexico aimed at eliminating tariffs and facilitating smoother trade between the members.

GATT

General Agreement on Tariffs and Trade, a multilateral agreement regulating international trade aimed at reducing or eliminating trade barriers like tariffs and quotas.

Congress

The legislative body of the United States government, consisting of two houses: the Senate and the House of Representatives, responsible for making federal laws.

Trade Deficit

A situation where a country's imports exceed its exports within a specified time period, indicating an outflow of domestic currency to foreign markets.