Essay on North American Free Trade Agreement NAFTA

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NAFTA:
North American Free Trade Agreement

Implementation of the North American Free Trade Agreement (NAFTA) began on January 1, 1994, and is one of the United States’ most significant regional trade agreements. The final provisions of the NAFTA were fully implemented on January 1, 2008. With full implementation, the last remaining trade restriction on a handful of agricultural commodities such as U.S. exports to Mexico of corn, dry edible beans, nonfat dry milk and high fructose corn syrup and Mexican exports to the United States of sugar and certain horticultural products are now removed. As you can see this agreement will have the potential to remove most barriers to agricultural trade and investment among the United States,
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This concept was carried over into the NAFTA. Chapter 8 of the NAFTA permits, under specified conditions, the parties to impose a temporary, emergency safeguard measure – that is, an increase in the tariff to the prevailing MFN level - in the event imports cause, or threaten to cause, serious injury to domestic producers. In 2008, a NAFTA partner could, assuming the associated conditions are satisfied, invoke a Chapter 8 safeguard provision until 1 year following full implementation of the NAFTA commitments, i.e., until January 1, 2009. Beyond January 1, 2009, the NAFTA Partner could maintain a safeguard arrangement only with the consent of the Party against whose good the action would be taken. (Teslik)
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. I found that Canada and Mexico are the first and second largest export markets for U.S.
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