The North American Free Trade Agreement (Nafta) Has Benefited

/The North American Free Trade Agreement (Nafta) Has Benefited

The North American Free Trade Agreement (Nafta) Has Benefited

Discussions made progress on a number of issues, including telecommunications, pharmacy, chemicals, digital commerce and the fight against corruption. But the way in which the origin of automotive content is measured has proved to be a sensitive point, as the United States fears an influx of Chinese auto parts. Discussions will be further complicated by a World Trade Organization (WTO) proceeding against the United States in December. A study published in the August 2008 edition of the American Journal of Agricultural Economics found that NAFTA increased U.S. agricultural exports to Mexico and Canada, although most of the increase occurred a decade after its ratification. The study focused on the impact of phase-in periods in regional trade agreements, including NAFTA, on trade flows. Most of the increase in membership agricultural trade, recently entered into the World Trade Organization, is due to very high trade barriers prior to NAFTA or other regional trade agreements. [91] NAFTA was the result of 14 months of intense negotiations in 1991 and 1992. It was ratified by the Canadian, American and Mexican legislatures in 1993 and came into force in January 1994. Prior to NAFTA, Canada and the United States had a canada-U.S.

trade agreement. Free trade agreement. U.S. Department of Commerce. Bureau of Census, foreign trade statistics. « New data updates 2005. » Available at Called on April 17, 2006. If NAFTA had not been signed, Guillen adds, « jobs would probably have gone to China or elsewhere; most jobs are relocated to China. The U.S. had a trade deficit with Mexico of $54 billion [in 2013], but with China it was [a deficit] of $318 billion, so the [US] deficit with China is five times larger than with Mexico. In other words, you would calculate, maybe for every job we lost in Mexico in the United States, five [jobs] were lost in China. Supporters have capped NAFTA because it has opened up Mexican markets to U.S. companies like never before.

The Mexican market is growing rapidly, which promises more export opportunities, which means more jobs.

By | 2021-04-13T08:54:05+01:00 avril 13th, 2021|Non classé|0 Comments

About the Author: