The correct answer is:
C. North American Free Trade Agreement.
Explanation:
The North American Free Trade Agreement also known as NAFTA came into action in 1994 and eliminated trade barriers and restrictions creating a trilateral block between Mexico, United States and Canada (the countries shown in the image), and created investment opportunities in all three countries. NAFTA was renegotiated in 2018 to be replaced with a new trade agreement called The United States-Mexico-Canada Agreement, which must be ratified before 2020 to replace NAFTA.
The advantages and disadvantages of NAFTA had been very controversial, mainly because manufacturing jobs are cheaper at Mexico, so industries from the United States migrated, leading to lower pays for workers and exploitation from Mexican manufacturers. The benefits from NAFTA include lower prices from products because of their lower cost of producing them, and cheaper imported oil from Canada and Mexico.
