Answer:
True. GATT (General Agreement on Tariffs and Trade), NAFTA (North American Free Trade Agreement, now USMCA - United States-Mexico-Canada Agreement), and the EU (European Union) are examples of market groupings or trade blocs. These agreements involve multiple countries coming together to facilitate trade and economic cooperation within their respective regions. GATT was a precursor to the World Trade Organization (WTO) and focused on reducing trade barriers worldwide. NAFTA, now USMCA, is a trade agreement between Canada, Mexico, and the United States, while the EU is a more extensive economic and political union comprising numerous European countries.
Step-by-step explanation: