Pros And Cons Of Nafta

NAFTA is a free-trade deal that came into action in January 1994, it was signed by U.S. president Bill Clinton, Mexican president Carlos Salinas, and Canadian prime minister Jean Chrétien. The main purpose of the agreement is to eliminate most tariffs on products traded among the United States, Mexico, and Canada. This agreement took away important tariffs in several different industries like, agriculture, textiles and automobiles. The NAFTA agreement also included things like intellectual property protections in the three selected countries. The partners of NAFTA include Canada, United States Of America and Mexico. Removing tariffs were important to this agreement because it allowed balance throughout each country. Mexican tariffs on US made products were 250 percent higher than US duties on Mexican products. NAFTA removed the tariffs creating this balance between the countries when
It has helped each country’s economy a lot. Mexico hasn’t benefited a lot from this agreement but since they have added internal reforms to the economy they have started to gain competitiveness and the platform that has been constructed mostly for exports and their manufacturing is also starting to become stronger. Even economists Jaime Serra Puche said “I think NAFTA has been excellent for Mexico.” Even politicians like Bill Clinton and Hillary Clinton have said that NAFTA has been an excellent decision, Mexico, Canada and USA has made. They said it has a high value in todays society mainly because of all the new jobs the agreement has created. Bill Clinton said “NAFTA means jobs, and good paying jobs, if I didn’t believe that, I wouldn’t support this agreement”. In these next three paragraphs you’re going to hear about all the pros and cons that NAFTA has given Canada, USA, and