Question

You have just learned that the United States and China have signed a new trade agreement. This agreement will make it easier for non-Chinese companies to sell electronic components such as those your firm makes in China. Does this new trade agreement reflect a strength, a weakness, an opportunity, or a threat?

Answer 1

Trade agreements bring different strengths for the economy, weaknesses of the implementation of plan; growth opportunities for both the economies; and lastly threats to the local and domestic competitors.

What are trade agreements?

The agreement entered into by two or more economies or organizations to conduct lawful trade activities in a predetermined manner is known as a trade agreement.

Based upon the trade agreements, following are:

• Strengths – Development of trade relations; availability of products at cheaper prices.

• Weaknesses – Irregularities in the agreement leading to the failure of trade activities.

• Opportunities – Exposure to new market; increased consumer loyalty; trade expansion.

• Threats – Competition given by domestic manufacturers.

Hence, the traits of the trade agreement are aforementioned.

Learn more about Trade Agreements here:

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