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Economic Alliances: An Analysis of Free Trade Agreements Free Trade Area of the Americas (FTAA) Central American Common Market (CACM) Southern Cone Common Market (Mercosur) Free trade which is the backbone of the American’s economy is often defined as trade or commerce carried out without such restrictions as import duties, export bounties, domestic production subsidies, trade quotas or import licenses. Free trade agreements are set in placed by several statues, regulations, and various economic alliances throughout the United States and the world.
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