Management Notes

Reference Notes for Management

Major trading partners of the United States including all of the following countries except:

Major trading partners of the United States including all of the following countries except:

 Options:

a. Canada
b. Mexico
c. China
d. North Korea

The Correct Answer Is:

  • d. North Korea

The correct answer is indeed “d. North Korea.” When discussing the major trading partners of the United States, it’s essential to consider the countries with which the U.S. has significant trade relationships. In this context, North Korea is not a major trading partner, while Canada, Mexico, and China are. Let’s elaborate on why each option is either correct or incorrect:

d. North Korea:

North Korea is not a correct answer because it is not a significant trading partner of the United States. In fact, the United States has imposed extensive economic sanctions on North Korea due to concerns about its nuclear weapons program, human rights abuses, and other issues. These sanctions severely restrict trade and economic engagement between the two countries.

As a result, North Korea does not play a significant role in U.S. international trade, making option d the correct answer.

Now, let’s explain why the other options are not correct:

a. Canada:

Canada is unquestionably one of the United States’ most important and significant trading partners. The U.S. and Canada share the world’s longest undefended border, and their economies are deeply interconnected.

They have a robust trade relationship supported by various agreements, including the United States-Mexico-Canada Agreement (USMCA), which replaced the North American Free Trade Agreement (NAFTA).

Canada consistently ranks as one of the top export destinations for U.S. goods, and bilateral trade supports millions of jobs on both sides of the border. Given the extensive trade ties between the two countries, option a is incorrect.

b. Mexico:

Mexico is another major trading partner of the United States, particularly due to its geographic proximity and the strong trade relationship facilitated by NAFTA (now USMCA). Mexico and the United States engage in substantial trade, covering a broad range of goods and services.

The United States exports various products to Mexico, including machinery, electronics, vehicles, and agricultural products. Mexico is a vital trading partner that contributes significantly to the U.S. economy, so option b is also incorrect.

c. China:

China is one of the most significant trading partners of the United States, both in terms of imports and exports. The U.S.-China trade relationship is vast and encompasses a wide array of goods, such as electronics, machinery, textiles, and consumer products.

China’s role in the global economy is substantial, and it is often seen as a major player in international trade. While there have been trade tensions and disputes between the U.S. and China, China remains a key trading partner for the United States, making option c incorrect.

In summary, North Korea is not a major trading partner of the United States, as strict economic sanctions limit any meaningful trade engagement between the two countries. On the other hand, Canada, Mexico, and China are significant trading partners, each playing a crucial role in the U.S. economy and international trade.

The relationships with these countries are characterized by extensive trade flows and economic cooperation, which is why options a, b, and c are all incorrect in the context of major U.S. trading partners.

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