Pros And Cons Of The North American Free Trade Agreements

After 27 months of negotiation, the North Atlantic Free Trade Agreement (NAFTA), a trade agreement between the three north American countries: Canada, United States, and Mexico, was put into effect on January 1st 1994. NAFTA was developed to increase trade among the three north American countries while simultaneously promoting each countries’ economy growth. However, the United States faces a new government, and President Trump believes that NAFTA should be renegotiated to modernize the trade agreement instead of removing U.S participation. Some of these renegotiations, include: Trade in goods, Investment, Digital Trade, Cross-Border Data Flows, Government Procedure, etc, take into account the changes in the economy since 1994. This new

NAFTA has been a controversial agreement since it was approved. It raises the high attention from people recently because Donald Trump wants to cancel this agreement. However, some opponents think that NAFTA has brought more benefits to Canada, Canada should not agree to cancel the NAFTA. In my view, NAFTA should not be abandoned because it has positively influenced Canada’s economy by increasing investment, the number of Canadian jobs and consumer’s purchasing power.

The North American Free Trade Agreement (NAFTA) is a trade agreement between Canada, the United States and Mexico. This treaty came into effect on January 1, 1994 and it granted free trade throughout North America. Canada, USA and Mexico became the largest free market in the world. Free trade between Canada and America existed since 1989 with the CFTA (Canadian Free Trade Agreement). The reason NAFTA was created was to remove tariff barriers on agricultural, manufacturing, and services, to remove investment restrictions and to protect intellectual property rights.

Investopedia.com states, “free trade is the economic policy of not discriminating against imports from and exports to foreign jurisdictions. (Buyers and sellers from separate economies may voluntarily trade without the domestic government applying tariffs, quotas, subsidies or prohibitions on their goods or services.)” In the previous decade, one of the many controversial subjects in the Canadian economy included whether or not it was beneficial for our federal government to eradicate free trade or open it up to other nations. During my research, I discovered that free trade agreements between Canada and other nations were not as beneficial as they may have seemed for they were often business and market oriented.

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.

Despite of trump’s decision to rescind the north america free trade agreement that would cause pain to american businesses and workers, US-canada free trade deal goes back into effect. Thirty five american states,most in the northeastern industrial belt, have canada as their largest export market.canada has not been on trumps trade radar in the past. American economic self interest dictates its commerce with canada remain unencumbered. It follows that international corporations looking for a toehold in north america may soon find canada a useful port of call. Trump is also supporting canada in building keystone XL pipeline as that is considered to be a cleaner and safer mode of transporting crude than rail.

The North American Free Trade Agreement, also known as NAFTA is a trade agreement between Mexico, Canada and the United States that went into effect in 1994 under President Clinton. NAFTA was created to help eliminate most tariffs on imports and exports between the three nations involved. Because of NAFTA these three countries are prospering more than ever. Overall, NAFTA has been a great success in achieving its purpose to increase trade and help boost the international economy. NAFTA, trying to help boost the economy, focuses mainly on increasing the international commerce in North America, and in that respect it undoubtedly succeeded.

Since its creation in 1994, the North American Free Trade Agreement (NAFTA) is a major issue of debate in the United States. The most important issue with NAFTA is how the agreement affects the U.S. economy. NAFTA has had a broad impact on the U.S. economy through creative destruction, globalization, job restructuring, and isolationism. All of these components have had both positive and negative influences on the U.S. economy. Creative destruction creates new jobs to replace the ones that were originally ended by NAFTA, globalization expands ideas, products, and business, but also causes the U.S. to lose money, job reconstruction recreates jobs to fit the functions of NAFTA and sometimes causes workers to lose their original jobs, and isolation

NAFTA, the North American Free Trade Agreement, has been getting a lot of not so favorable, and sometimes, controversial headlines in recent years. Some critics blame it for the current labor shortages in the United

Donald Trump, as part of his economic platform, promises Seven actions to protect American workers. The North American Trade Agreement (NAFTA) is not popular among the American public, especially among those whom are union workers, and it is

Ordinary Americans that were in support of the NAFTA agreement did not receive the benefits that were promised for the economy. Former President Bill Clinton said in his speech, “For 20 years the wages of the bottom 60 percent of our work force, more or less, have been stagnant as people work harder for the same or lower wages.” Therefore, he introduced the NAFTA agreement, in which he stated would “unite Canada, Mexico, and the United States in a huge trading block which will enable us to grow and move together”. Thus, allowing the creation of more jobs and higher incomes in the economy.

The North American Free Trade Agreement, or NAFTA, was formed on January 1, 1994. NAFTA today has more negative impact than positive impact on the environment in Mexico because of heavy pollution and poor conditions for workers in the factories. This trading pact meant for efficient use of globalism could cause environmental injustice. NAFTA is a trading agreement between three countries—the United States, Canada and Mexico. This agreement was created to lower trading barriers between the Americas in order to improve the economy.

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.

In the recent 2016 election Mr. President, Donald J. Trump has repeatedly voiced his opinion about the North American Free Trade Agreement (NAFTA). According to Tami Luhby from CNN (2016), Mr. President is quoted saying, “NAFTA is a disaster and one of the worst trade deals in history.” However, without NAFTA we would not be able to import nearly half of the goods we receive. For instance, Ford, one of the leading car manufactures is located in Mexico. With most of the cars America imports being from Mexico (Valdes-Dapena, 2016). With all the media hype surrounded around NAFTA it is hard to not let the media persuade you. However, I am here to explain why NAFTA is making our economy stronger and stronger every day.

58% of Americans agree that foreign trade has been bad for the U.S. economy because cheap imports have cost wages and jobs here.