North American Free Trade Agreement

The North American Free Trade Agreement (NAFTA) is an international agreement between Canada, America and Mexico. This agreement took effect in January 1994 and was signed by President Bill Clinton. This agreement brought great changes in trade volumes and open new opportunities for millions of labours. Later, in January 2008 according to the schedule all duties and restrictions were eliminated. About 45,000 tariffs were eliminated in 1994 and only 3000 were left until 1999.

The North American Free Trade Agreement, commonly known as the NAFTA, is a trade agreement between the United States, Canada and Mexico launched to enable North America to become more competitive in the global marketplace (Amadeo, 2011). The NAFTA is regarded as “one of the most successful trade agreements in history” for its impact on increases in agricultural trade and investment among the three contracting nations (North American Free Trade Agreement, 2011). Supporters and opponents of the NAFTA have argued the effects of the agreement on participating nations since its inception; yet, close examination proves that NAFTA has had a relatively positive impact on the economies of the United States, Canada, and Mexico.

In 1987, Prime Minister Martin Brian Mulroney began the road towards free trade. The first negotiations were made to lead Canada into FTA (Free Trade Agreement) with the United States. “FTA refers to a system of trading between countries without barriers such as tariffs (taxes) or quotas (limits on certain goods).” In 1992, the North American Free trade agreement was introduced by President Clinton, it “created free trade between Mexico, the U.S., and Canada.” It was made in the hopes of improving economies and promoting an expansion in job creations. The agreement diminished boundaries that were implied with international investing and trading. Even though the idea seemed acceptable at the time, it certainly created troublesome situations

The purpose of this document is to explore the history of the North American Free Trade Agreement (NAFTA), the effects NAFTA has had on Canada, the United States of America (specifically American labor and job market) and Mexico. It will also delve into the current state of NAFTA, the advantages and disadvantages to American economy and what the future holds for this historic trade agreement. NAFTA has effected many parts of the world and not just the three countries who originally signed the agreement. It has caused several negative effects for many, especially citizens of the United States; but what evidence is there of this claim.

The biggest myth or argument you hear with NAFTA is that hasn’t helped the United States. I wasn’t sure if this was true so I decided to do this research project after watching the Democratic debate between Hillary Clinton and Obama Barack. I saw the intensity at which they argued that topic of NAFTA more passionately than any other. I had no idea what NAFTA consisted of and I felt that I better get up to speed with what would be shaping the U.S. Presidential race in 2008.

The North American Free Trade Agreement(NAFTA) has tremendously helped Canada and its economic well- being. On the beginning of the year of 1994, an agreement on the basis of trading between Canada, the United States of America, and Mexico was made. This agreement was based on the motive of free trade, such that of paying significantly less in import and export taxes between the three nations. NAFTA has aided North America extensively, that being said helping Canada’s economy is no exception to it’s role. NAFTA has greatly helped Canada by growing the economy, creating more jobs, to improving prices and selection in consumer goods. In conclusion, NAFTA has been a big asset to Canada’s economic growth.

In this essay, an examination and analysis of the impacts of the North American Free Trade Agreement and other trade agreements between Canada and the United States is presented. First, background information is provided on the different trade agreements facilitating free trade between Canada and the U.S. Next, the major benefits and negative impacts of these trade agreements are examined and detailed. A discussion on the overall impacts is then presented, and the paper concludes with a short commentary on the injustices associated with current free trade agreements. It is argued that while free trade agreements have facilitated economic development and growth, the benefits of these agreements have largely accrued to the

The formation of NAFTA (North American Free Trade Agreement) has brought many advantages among the nations of the U.S., Canada, and Mexico. Since its inception in 1994, it is difficult to see the great effect NAFTA has economically whether it is good or bad due to currency fluctuations, and economic growth (Villarreal & Fergusson, 2014). This is why the paper will go into the advantages that NAFTA has brought to the countries mentioned above. The advantages that will be discussed are the reducing or elimination of tariffs amid the three nations, and production domestically (Ebert & Spielmann, 1994; Villarreal & Fergusson, 2014).

The North American Free Trade Agreement, or NAFTA, which was signed into law by President Bill Clinton on December 8th, 1993, went into effect on January 1st, 1994. By December of 1994, Mexico underwent a deep economic crisis, which saw the devaluation of the Mexican peso, a deterioration of wages, rampant unemployment, as well as extensive personal and corporate bankruptcies that led to the poverty and malnutrition of many of its citizens. As we explore the economic effects that NAFTA has had on Mexico, we must consider what economic disparity has meant for the citizens of Mexico, and how it has impacted migration patterns from Mexico to the United States.

With the growing trend of globalization within supply chains to expand products into foreign countries, understanding the elements of trade blocs that enable open markets between member nations while also decreasing the cost of conducting business within a country is essential in making strategic logistical decisions. The North American Free Trade Agreement (NAFTA) has provided one such trade bloc that encompasses the countries of the United States, Mexico, and Canada. Since the inception of NAFTA in 1994, significant financial results have been achieved regarding increases in trade revenue and increases in the Gross Domestic Product (GDP). While there is a debate on whether NAFTA has achieved its intended goals, growing concerns in the

NAFTA has been a modest success to the extent it was designed to benefit its member nations. In general, the agreement has helped to boost environmental standards. It has improved conditions in Mexico and helped to lower prices in the US (Cherniwchan, 2017). It has also helped to create a special relationship between the US and Mexico, which could be valuable down the road. However, it has also created something of an offshoring and outsourcing crisis, which has crippled many different rural communities in the US. There are entire communities that depended on factories that have been moved out of town. This is difficult on these communities and surely will lead to long-term problems in the US (Cherniwchan, 2017).

The North American Free Trade Agreement (NAFTA) is an agreement between each of the three North American countries (Canada, Mexico, and The United States of America) concerning intracontinental trade. NAFTA has broken down trade barriers and regulations like tariffs in favor of a neo-liberal form of trade organization. This neo-liberalism promotes a self-governing free market and mass privatization of distribution of goods. This decreases government involvement in the economy and leaves the economy to the market and the private industries involved. Neo-liberalism promotes an incentive for high Gross Domestic Product (GDP) and mass transfer of goods between people and organizations. However, new technologies and NAFTA’s new expectations of high

NAFTA created the world’s largest free trade area, which now links 450 million people producing $17 trillion worth of goods and services.

Economic growth means a growth of the country’s income, which is connected to a nation’s output growth in a fixed period. The NAFTA has designed from a deal which is made by three countries, Canada, America and Mexico in prior decades. The vigorous growth of the inputs and outputs of the goods and services gave a promote action on these countries’ economy due to the free trade agreement. According to the details of the agreement, it is clearly close the relationships between a developing country and two developed countries. Because of this agreement, it creates a liquid circulation of trade and investment flows among the NAFTA members. In fact, to act as the largest single export market of the U.S.A, Canada sends ninety eight percent of its

It is commonly believed that free trade between nations is a mutually beneficial arrangement for all parties involved; indeed, this is held to be an absolute truth. Though free trade is undoubtedly the most effective form of commerce between countries from a purely economic standpoint, increasingly we find that our so-called "free trade agreements" are horribly unbalanced. Indicative of these fiascoes is the North American