How The Canadian Economy Is De


The Canadian economy is determined largely by the United States economy threw the North American Free Trade Agreement (NAFTA) and the Free Trade Agreement (FTA). The North American Free Trade Agreement was an agreement that came into effect on January 1,1995 which involves Mexico, Canada and the United States of America. This agreement is said to produce 1 billion to 3 billion dollar gains in each country. NAFTA ensures that a certain amount of goods produced and traded between the three countries has to have a minimum percentage of its parts produced in North America.
The Free Trade agreement is between the United States and Canada. The Free trade agreement came into effect in 1989 ...

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U.S economy that is ten times its size. While the U.S economy will gain the lower-priced Canadian goods.
These two agreements show how much the Canadian economy relies on the United States economy and threw these two agreements the Canadian producers can export and import U.S goods easily and at an affordable and profitable price. In this paper I will show you how the FTA and the NAFTA help the Canadian economy export and import into the U.S economy and will show you how much the Canadian economy needs the American economy to do business.
Why are the FTA and the NAFTA important to Canada? Considering that the United States is Canada’s most important country to trade with it only seems logical that the Canadian economy would benefit from free trade that the FTA and the NAFTA give them. The FTA eliminated many things and one of those things was Tariffs. Under the FTA, one group of tariffs was eliminated on January 2, 1989 another group in 1994 and all the rest of the tariffs were ...

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Since U.S exports to Canada only account for a small 1.3 per cent of its GDP and Canadian exports to the U.S account for 20 per cent of its GDP, Canada can’t afford to lose this agreement while the end of this agreement would hardly even effect the U.S.
The NAFTA set up free trade over North America. Since Canada already had free trade with the U.S the NAFTA set up free trade with Mexico. The NAFTA has been controversial both in Canada and in the U.S because people are afraid that Canadian business firms may leave Canada and take advantage of the lower wages and safety regulations in Mexico. The NAFTA agreement states that a certain percentage of goods have to be manufactured in ...

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Added: 1/21/2004 10:21:48 PM
Category: Political Science
Words: 2088
Pages: 8

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