The North American Free Trade Agreement (NAFTA) is a free trade agreement among the United States, Canada, and Mexico, whereas the European Union (EU) is an economic union of 28 nations (UK is going to exit). Compare and contrast the NAFTA and EU. What are the benefits and drawbacks of being a member country of the NAFTA and the EU (consider the pros and cons of being part of a single-currency program), respectively? Evaluate the U.S. exports and imports of goods and services with the NAFTA countries and other countries during the past five years.
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