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1. Regional trade agreements In the following table, indicate whether each statement about regional trade agreements is true or false. Statement True False Under regional trade agreements, several countries eliminate tariffs among themselves and lower tariffs against all other O O countries. Regional trade agreements are permitted under GATT. O O The countries of the European Union (EU) maintain a common schedule of tariffs with countries outside the EU. O O A good imported into Mexico from China will not be granted duty-free access to the U.S. market if no value is added to this good O O in Mexico. Countries that enter into a free trade area agreement keep the tariffs that they formerly had with the rest of the world. O O Rules of origin are not needed in a customs union. O O Grade It Now Save & Continue Continue without saving

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