This discussion is designed to see if you can apply economics to real life situations. Please use your own personal experiences to answer the following discussion questions. If you do not have personal experiences, you can share examples of your family and/or friends. This will show that you are able to make connections between what you learn in this class and what you encounter in the real world.

Now it is time to reflect on what you've learned in Module 01 and apply them in your daily lives.

Your participation in this Discussion demonstrates the following learning objectives:

• Discuss the application of international trade policy.
• Discuss how does international trade affect your daily lives.

What to do:

After reading the international trade chapter, share your thoughts with us about the international trade policy that took effect on July 1, 2020 in the United States and its two neighboring countries.

Please use specific examples in your discussion post, such as trade restrictions, tariffs, and labor wage, etc. to answer the following questions:

1. When the United States and its two neighboring countries reached international trade agreement for the new NAFTA, i.e., USMCA, they made many changes to the old NAFTA. Please discuss two specific changes in the new NAFTA* or USMCA**.
2. Select one change that brings advantage to you, your family, and/or friends? Please provide specific examples from your own experiences.
3. Select one change that brings disadvantage to you, your family, and/or friends? Please provide specific examples from your own experiences.

*NAFTA stands for North American Free Trade Agreement.

**USMCA stands for United States-Mexico-Canada Agreement.