Everyone trades in their everyday life. Using money as a means of exchange, we trade goods and services with others in order to have what we cannot provide for ourselves. An individual prevented from trading would have a very low standard of living as they would have to be self-sufficient. We would all agree that letting your neighbor the carpenter build your deck, while you, the accountant complete his tax returns is smart. Sure, either one of these two individuals could do both, taxes and deck building, but by trading, they achieve both more efficiently.
Neighboring countries may also benefit from trade. In 1993, three neighbor nations, Canada, Mexico and the United States entered into the North American Free Trade Agreement (“NAFTA”).
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