To implement the low tariff policy between the 1930s and the early 1970s, Congress gave the U.S. president the power to unilaterally negotiate international trade agreements and reduce tariffs through executive agreements, both within the limits set by Congress. This streamlined trade negotiations, agreements and implementation, allowing the United States to move faster as part of congressional guidelines. A trade agreement signed between more than two parties (usually neighbouring or in the same region) is considered multilateral. They face the main obstacles – to content negotiation and implementation. The more countries involved, the more difficult it is to achieve mutual satisfaction. Once this type of trade agreement is governed, it will become a very powerful agreement. The larger the GDP of the signatories, the greater the impact on other global trade relations. The largest multilateral trade agreement is the North American Free Trade Agreement[5] between the United States, Canada and Mexico. [6] Bilateral agreements cover two countries. Both countries agree to relax trade restrictions to expand business opportunities between them. They reduce tariffs and give themselves privileged trade status. In general, the point of friction is important national industries that are protected or subsidized by the state.

In most countries, they are active in the automotive, oil and food industries. The Obama administration negotiated with the European Union the world`s largest bilateral agreement, the Transatlantic Trade and Investment Partnership. APEC is a forum for 21 Pacific countries to promote free trade and economic cooperation throughout the Asia-Pacific region. With regard to asymmetry in a multilateral trading world, asymmetry in the size of economies and the application issues arising from such asymmetry must also establish Limo and Saggi (2013) a multilateral business model in which a large country and a group of small symmetrical countries act on two products, namely x and y products. The large country imports the product y from the number of small symmetrical countries, and each small country imports the product x of the large country. If these small K countries coordinate as a group in setting their import duties on Product x, such a pricing set will be identical to the game between two symmetrical countries, creating the symmetrical restriction of the incentive to implement the trade agreement in (16).