Trade Relations: NAFTA MCQs [USA – America], US-China trade relations MCQs [USA – America]

1. When was NAFTA signed into law? A) 1992 B) 1994 C) 1996 D) 1998 Answer: B) 1994 2. Which countries were involved in NAFTA? A) USA, Canada, Mexico B) USA, Mexico, Brazil C) Canada, USA, Chile D) USA, Canada, Australia Answer: A) USA, Canada, Mexico 3. Which agreement replaced NAFTA? A) USMCA B) TPP C) WTO D) TTIP Answer: A) USMCA 4. What does NAFTA stand for? A) North American Free Trade Agreement B) North Atlantic Free Trade Agreement C) North American Free Trade Area D) North American Trade Agreement Answer: A) North American Free Trade Agreement 5. Which year did NAFTA come into effect? A) 1992 B) 1994 C) 1996 D) 1998 Answer: B) 1994 6. What was a major goal of NAFTA? A) To reduce tariffs between member countries B) To establish a common currency C) To create a single market for labor D) To harmonize environmental regulations Answer: A) To reduce tariffs between member countries 7. Which sector saw significant growth due to NAFTA? A) Automotive industry B) Textile industry C) Agriculture D) Financial services Answer: A) Automotive industry 8. Which organization was responsible for overseeing NAFTA’s implementation? A) North American Free Trade Commission B) NAFTA Secretariat C) North American Trade Bureau D) Free Trade Oversight Board Answer: B) NAFTA Secretariat 9. Which NAFTA chapter was focused on labor rights? A) Chapter 11 B) Chapter 19 C) Chapter 23 D) Chapter 24 Answer: C) Chapter 23 10. What did NAFTA’s Chapter 19 address? A) Dispute resolution B) Environmental standards C) Labor rights D) Intellectual property Answer: A) Dispute resolution 11. Which US President negotiated NAFTA? A) George H.W. Bush B) Bill Clinton C) George W. Bush D) Barack Obama Answer: B) Bill Clinton 12. What was a major criticism of NAFTA? A) Increase in unemployment in manufacturing B) Overregulation of financial markets C) Increased tariffs on imports D) Loss of national sovereignty Answer: A) Increase in unemployment in manufacturing 13. Which chapter of NAFTA focused on environmental issues? A) Chapter 10 B) Chapter 11 C) Chapter 19 D) Chapter 24 Answer: D) Chapter 24 14. Which of the following was NOT a feature of NAFTA? A) Elimination of trade barriers B) Creation of a common currency C) Enhanced trade dispute resolution D) Promotion of economic cooperation Answer: B) Creation of a common currency 15. What was the primary goal of NAFTA’s Chapter 11? A) Investment protection B) Trade in services C) Agricultural subsidies D) Environmental standards Answer: A) Investment protection 16. Which trade agreement is considered the predecessor to NAFTA? A) US-Canada Free Trade Agreement B) NAFTA Plus C) North American Trade Agreement D) Trans-Pacific Partnership Answer: A) US-Canada Free Trade Agreement 17. Which industry in Mexico benefited from NAFTA due to increased exports? A) Electronics B) Textiles C) Auto parts D) Oil Answer: C) Auto parts 18. In which year was the USMCA agreement signed to replace NAFTA? A) 2017 B) 2018 C) 2019 D) 2020 Answer: C) 2019 19. Which country was the largest trading partner of the USA under NAFTA? A) Mexico B) Canada C) China D) Japan Answer: A) Mexico 20. What was one of the primary focuses of NAFTA’s Chapter 19? A) Trade dispute resolution B) Customs procedures C) Environmental policies D) Labor rights Answer: A) Trade dispute resolution 21. When did the US and China establish formal diplomatic relations? A) 1972 B) 1979 C) 1985 D) 1991 Answer: B) 1979 22. Which US President initiated trade negotiations with China in the early 1970s? A) Richard Nixon B) Gerald Ford C) Jimmy Carter D) Ronald Reagan Answer: A) Richard Nixon 23. Which agreement is considered a major milestone in US-China trade relations? A) The China-U.S. Trade Agreement B) The Phase One Trade Deal C) The WTO Accession Agreement D) The GATT Agreement Answer: C) The WTO Accession Agreement 24. When did China join the World Trade Organization (WTO)? A) 1999 B) 2000 C) 2001 D) 2002 Answer: C) 2001 25. Which US President signed the Phase One Trade Deal with China? A) Barack Obama B) Donald Trump C) Joe Biden D) George W. Bush Answer: B) Donald Trump 26. What was one of the key components of the Phase One Trade Deal? A) China’s commitment to increase purchases of US goods B) Removal of all tariffs on Chinese goods C) Establishment of a new free trade zone D) Joint military exercises Answer: A) China’s commitment to increase purchases of US goods 27. Which sector faced significant tariffs during the US-China trade war? A) Agricultural products B) Technology products C) Automotive industry D) Pharmaceuticals Answer: B) Technology products 28. What year did the US-China trade war officially begin? A) 2017 B) 2018 C) 2019 D) 2020 Answer: B) 2018 29. Which US President imposed tariffs on Chinese steel and aluminum imports in 2018? A) Barack Obama B) Donald Trump C) Joe Biden D) George W. Bush Answer: B) Donald Trump 30. What was the primary goal of the US tariffs on Chinese goods? A) To reduce the trade deficit B) To increase Chinese exports C) To promote joint ventures D) To lower US consumer prices Answer: A) To reduce the trade deficit 31. Which Chinese company was significantly impacted by US sanctions during the trade conflict? A) Huawei B) Alibaba C) Lenovo D) Baidu Answer: A) Huawei 32. What was the primary focus of the US-China Phase One Trade Deal? A) Intellectual property rights B) Trade in services C) Environmental policies D) Labor rights Answer: A) Intellectual property rights 33. What action did the US take in response to China’s “Made in China 2025” plan? A) Imposed tariffs B) Negotiated a trade agreement C) Supported Chinese technology firms D) Reduced trade barriers Answer: A) Imposed tariffs 34. Which US agency is responsible for enforcing trade regulations and tariffs? A) Department of Commerce B) Department of State C) United States Trade Representative (USTR) D) Federal Reserve Answer: C) United States Trade Representative (USTR) 35. Which trade issue was a major point of contention between the US and China prior to the trade war? A) Currency manipulation B) Labor standards C) Environmental regulations D) Immigration policies Answer: A) Currency manipulation 36. Which agreement focused on resolving disputes and reducing tariffs in US-China trade? A) The China-US Trade Agreement B) The US-China Economic Cooperation Agreement C) The Phase One Trade Deal D) The Comprehensive Economic Partnership Agreement Answer: C) The Phase One Trade Deal 37. What was a major objective of the US in the Phase One Trade Deal with China? A) To secure greater market access for US firms B) To create a bilateral currency agreement C) To expand military cooperation D) To increase Chinese investment in US infrastructure Answer: A) To secure greater market access for US firms 38. Which sector in China was targeted by US tariffs for its technological advancements? A) Renewable energy B) Artificial intelligence C) Textile manufacturing D) Agriculture Answer: B) Artificial intelligence 39. Which US administration aimed to reform the US-China trade relationship to address trade imbalances and intellectual property issues? A) Obama Administration B) Trump Administration C) Biden Administration D) Bush Administration Answer: B) Trump Administration 40. Which Chinese official played a key role in negotiating the Phase One Trade Deal? A) Xi Jinping B) Wang Yi C) Liu He D) Zhang Yesui Answer: C) Liu He 41. Which year did the US-China trade conflict peak with significant tariffs on both sides? A) 2017 B) 2018 C) 2019 D) 2020 Answer: B) 2018 42. Which policy aimed at reducing US reliance on Chinese goods and manufacturing? A) America First B) Reshoring Initiative C) New Silk Road D) Trans-Pacific Partnership Answer: B) Reshoring Initiative 43. What was one of the outcomes of the US-China Phase One Trade Deal? A) A reduction in the trade deficit B) Increase in Chinese tariffs on US goods C) More US agricultural exports to China D) Joint military exercises Answer: C) More US agricultural exports to China 44. Which Chinese province was most impacted by US tariffs on manufacturing exports? A) Guangdong B) Shandong C) Zhejiang D) Sichuan Answer: A) Guangdong 45. What was one of the key topics not addressed in the Phase One Trade Deal? A) Technology transfer B) Currency manipulation C) Intellectual property rights D) Agricultural purchases Answer: B) Currency manipulation 46. Which country is a major competitor for China in the global trade market? A) India B) Japan C) Germany D) Mexico Answer: A) India 47. Which US President was the first to visit China after the establishment of diplomatic relations? A) Jimmy Carter B) Richard Nixon C) Ronald Reagan D) George H.W. Bush Answer: A) Jimmy Carter 48. Which Chinese policy was seen as a potential threat to US economic interests? A) Belt and Road Initiative B) Made in China 2025 C) Asia Infrastructure Investment Bank D) Green Energy Plan Answer: B) Made in China 2025 49. What was a major reason for US tariffs on Chinese technology companies? A) National security concerns B) Labor rights violations C) Environmental impact D) Currency valuation Answer: A) National security concerns 50. What was a significant impact of the US-China trade war on global markets? A) Decrease in global stock prices B) Increase in global trade agreements C) Rise in global commodity prices D) Stabilization of international currencies Answer: A) Decrease in global stock prices