Which of the following statements about recent developments in trade and protectionism in the United States is true?Multiple ChoiceAlthough Donald Trump made protectionism a big part of his campaign, he has not taken any concrete protectionist actions with respect to trade.New protectionist measures in the United States have largely eliminated its trade deficit.Free-trade agreements with Panama, Colombia, and Korea passed with far more Republican than Democratic support in Congress.President Donald Trump withdrew the United States from NAFTA in 2017.Most U.S. presidents have leaned toward protectionism over free trade since World War II.
Question
Which of the following statements about recent developments in trade and protectionism in the United States is true?Multiple ChoiceAlthough Donald Trump made protectionism a big part of his campaign, he has not taken any concrete protectionist actions with respect to trade.New protectionist measures in the United States have largely eliminated its trade deficit.Free-trade agreements with Panama, Colombia, and Korea passed with far more Republican than Democratic support in Congress.President Donald Trump withdrew the United States from NAFTA in 2017.Most U.S. presidents have leaned toward protectionism over free trade since World War II.
Solution
The correct statement is: "President Donald Trump withdrew the United States from NAFTA in 2017."
Here's a step-by-step explanation:
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Although Donald Trump made protectionism a big part of his campaign, he did take concrete protectionist actions with respect to trade. So, the first statement is false.
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New protectionist measures in the United States have not largely eliminated its trade deficit. Therefore, the second statement is also false.
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Free-trade agreements with Panama, Colombia, and Korea did pass with more Republican than Democratic support in Congress. However, this is not a recent development as these agreements were passed during the Obama administration. So, the third statement is not entirely true in the context of recent developments.
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President Donald Trump did withdraw the United States from NAFTA in 2017 and replaced it with the United States-Mexico-Canada Agreement (USMCA). So, the fourth statement is true.
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Most U.S. presidents since World War II have leaned toward free trade, not protectionism. Therefore, the fifth statement is false.
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