What Is A Commercial Trade Agreement

Exports to Chile increased by 365 per cent, from $2.4 billion to $11.4 billion from 2003 to 2008, and the United States` market share increased from 15 per cent in 2003 to 19 per cent in 2008. [12] Another driver of global trade liberalization has been the International Monetary Fund. From 1980 to 2000, the IMF often called on developing countries to unilaterally dismantle their tariffs and other barriers to trade in order to obtain its financial support. The IMF imposed tariff reduction requirements on fifteen middle-income countries and twenty-five low-income countries that were members of the WTO, as well as three middle-income countries and seven low-income countries that were in the process of joining the WTO. As China gained economic power and notoriety, it turned to regionalism as a strategic method to level the playing field with Europe and the United States.