Open markets are one way that globalization has led to economic integration. The United States and South Korea recently completed negotiations on the world's largest bilateral trade agreement. The deal will result in:
A) a trade conference to be held once every year.
B) increase in tariffs for all product categories.
C) a series of multilateral trade negotiations among neighboring countries.
D) increase in trade gap between South Korea and the United States.
E) reduction of tariffs on about 90 percent of product categories.
Answer: E) reduction of tariffs on about 90 percent of product categories.