In the first two decades of the agreement, regional trade increased from about $290 billion in 1993 to more than $1.1 trillion in 2016. Critics disagree on the net impact on the U.S. economy, but some estimates indicate net job losses on the national territory at 15,000 per year due to the agreement. UNCTAD`s work on trade negotiations and commercial diplomacy is helping candidate countries: the Doha Round would have been the largest global trade agreement if the US and the EU had agreed to reduce their agricultural subsidies. After its failure, China gained ground in the global economy by adopting profitable bilateral agreements with countries in Asia, Africa and Latin America. Second, the details of the negotiations relate specifically to trade and commercial practices. The public often mistook. As a result, they receive a lot of press, controversies and protests. Some regional trade agreements are multilateral. The most important was the North American Free Trade Agreement (NAFTA), ratified on January 1, 1994.
NAFTA quadrupled trade between the United States, Canada and Mexico from 1993 to 2018. The Agreement between the United States, Mexico and Canada (USMCA) entered into force on July 1, 2020. The USMCA was a new trade deal between the three countries, negotiated under President Donald Trump. In this context, UNCTAD aims to build the capacity of developing countries, to participate effectively in multilateral, regional and bilateral trade negotiations and to maximize the use of trade agreements to achieve development results. In this area, UNCTAD`s work on trade negotiations and commercial diplomacy helps countries engage at different stages of negotiations, including those aimed at developing negotiating modalities for trade in goods and services, and in providing analysis to facilitate the assessment of alternative scenarios and arrangements. These agreements between three or more countries are the most difficult to negotiate. The larger the number of participants, the more difficult the negotiations. They are inherently more complex than bilateral agreements, with each country having its own needs and wishes. The same broad scope makes them more robust than other types of trade agreements once all parties have signed them….