in place. Table 20.5 lists a few of the more prominent ones. Some are just agreements to continue talking.

Others set specific goals for reducing tariffs, import quotas, and nontariff barriers. One economist described

the current trade treaties as a “spaghetti bowl,” which is what a map with lines connecting all the countries

with trade treaties looks like.

There is concern among economists who favor free trade that some of these regional agreements may promise

free trade, but actually act as a way for the countries within the regional agreement to try to limit trade from

anywhere else. In some cases, the regional trade agreements may even conflict with the broader agreements of

the World Trade Organization.

2 As of July 1, 2020, NAFTA was officially replaced with the United States-Mexico-Canada (USMCA) free trade agreement. It is
broadly similar to the original NAFTA.
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