International Trade Agreements
This trade agreement created a single market between Canada, the United States, and Mexico in 1994
What is the North American Free Trade Agreement (NAFTA)?
In this country, interrupting someone during a conversation is generally acceptable as it shows engagement, but direct eye contact is key to showing respect
What is France?
This fast-food chain is known for adapting its menu to suit local tastes in international markets (such as offering veggie burgers for stores in India)
What is McDonald's?
This currency is used in Japan
What are yen?
In this country, the norm is a highly relationship-oriented negotiation that prioritizes consensus, subtle cues, and building long-term partnerships
What is Japan?
This organization was created to promote free trade by reducing tariffs and trade barriers worldwide.
What is the World Trade Organization (WTO)?
In this Nordic country, it’s considered impolite to boast about personal achievements in business settings, as modesty is highly valued
What is Sweden?
This Swedish furniture company is famous for its flat-pack products and stores designed to offer a full in-store experience worldwide
What is IKEA?
This is the currency used in India
What are rupees?
In this country, negotiations tend to be very logical and detail-oriented, with highly structured, less flexible agreements
The European Union allows free movement of goods, people, and capital between member countries in this economic agreement
What is the European Single Market?
In this country, close physical proximity is common in business interactions, and stepping back may be perceived as unfriendly or cold
What is Brazil?
Founded in Germany, this luxury automobile manufacturer is known for its engineering excellence and the slogan "The Best or Nothing."
What is Mercedes-Benz?
This is the currency used in Morrocco
What is the dirham?
In this country, negotiations are typically direct, focused on achieving a quick deal, and comfortable with open confrontation. Prioritizes the facts and figures
What is the US?
This agreement encourages free trade among African countries, aiming to create one of the largest free trade areas in the world.
What is the African Continental Free Trade Area (AfCFTA)?
In this Asian country, business gifts are often refused several times before being accepted, as immediate acceptance can be seen as impolite
What is China?
This Japanese automobile manufacturer is known for producing some of the most reliable vehicles in the world and has a strong environmental focus.
What is Toyota?
This term refers to the simultaneous buying and selling of foreign currencies to reduce exchange rate risk
What is hedging?
In the Middle East, it’s common to engage in this practice of negotiating the price of goods and services.
What is haggling/bargaining
This trade agreement between Australia, Japan, Canada, and several other Pacific Rim countries was designed to encourage economic growth
What is the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)?
In this country, silence during negotiations is common, as it reflects thoughtfulness and consideration in decision-making
What is Japan?
Headquartered in Switzerland, this multinational food and beverage company is one of the largest food producers in the world
What is Nestle?
This concept is used to compare standards of living and economic productivity between different countries. This is the exchange rate at which one nation's currency would be converted into another to purchase the same amounts and types of a large group of products
What is Purchasing Power Parity (PPP)?
What is France?