Why do countries join together in trade blocs?
Understand the Problem
The question is asking about the reasons and motivations behind countries forming trade blocs, which may include economic benefits, political alliances, and trade facilitation.
Answer
To encourage trade by lowering tariffs and trade barriers.
The final answer is to encourage trade between members by lowering tariffs and trade barriers.
Answer for screen readers
The final answer is to encourage trade between members by lowering tariffs and trade barriers.
More Information
Countries join trade blocs to lower tariffs and other trade barriers, which can promote economic growth and create beneficial trade relationships.
Tips
Some common reasons mentioned, like helping member countries remain economically independent, are incorrect; trade blocs often aim for economic interdependence.
Sources
- Brainly - Why do countries join together in trade blocs? - brainly.com
- Chegg - Why do countries join together in trade blocs? - chegg.com
- Wikipedia - Trade bloc - en.wikipedia.org
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