Warning: Use of undefined constant referer - assumed 'referer' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 102

Warning: Use of undefined constant host - assumed 'host' (this will throw an Error in a future version of PHP) in /usr/home/essaywo/public_html/essays on line 105

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 106

Warning: Cannot modify header information - headers already sent by (output started at /usr/home/essaywo/public_html/essays:102) in /usr/home/essaywo/public_html/essays on line 109
Impact Of NAFTA On Canada's Economy - Online Essay

Impact Of NAFTA On Canada's Economy

INTRODUCTION

Canada and the United States have had a long-standing friendship in which the two nations live peacefully side-by-side. The borders are not armed, the residents of each nation have respect for the other and there are many advantages enjoyed by remaining friendly. Just as any two friends will have disagreements from time to time, Canada and the US have also had their share of problems. One of the problems that has occurred from time to time between the two nations deals with the economics of each nation. NAFTA, which is a membership group designed to promote and improve trade relations within the member nations is sometimes called in to mediate between Canada and the US. ...

Want to read the rest of this paper?
Join Essayworld today to view this entire essay
and over 50,000 other term papers

by allowing certain equalizing tariffs much in the same way racing cars qualify for starting position in a race.
The trade disputes between the two countries have been mediated and settled through use of the arbitration panel that was established under the North American Free Trade Agreement (NAFTA) with varying results and outcomes. For the most part the NAFTA agreements and rules have been favorable for the economy of Canada(Trade, 1996). One example of such profit allowing decisions was reached in 1996 when Canada and the US had a dispute about Canada's marketing boards that regulate prices for eggs, dairy products and chickens. The US fought the ability for Canada to maintain the regulations stating it would cost the US about $1.billon dollars, but the mediating panel of NAFTA ruled Canada was within its rights to use its marketing board. The NAFTA ruling in Canada's favor provided continued revenue for the Canadian economy.
"U.S. dairy, poultry, egg and barley interests ...

Get instant access to over 50,000 essays.
Write better papers. Get better grades.


Already a member? Login

governments were left to argue out the situation and try and resolve it. The NAFTA implementation gave each nation an avenue to pursue complaints in the trade transactions. Canada's economy has improved because of NAFTA because it has placed rules and trade agreements in place that all members have agreed to abide by. This eliminates many possible disagreements that would occur without the prearranged agreement(Launches, 2002).
Since the inception and implementation of NAFTA Canada has had a recourse if it did not agree with a decision being made by the other members. In addition to allowing Canada to proceed with its own trade actions it also protects Canada from being subjected to ...

Succeed in your coursework without stepping into a library.
Get access to a growing library of notes, book reports,
and research papers in 2 minutes or less.


CITE THIS PAGE:

Impact Of NAFTA On Canada's Economy. (2015, August 9). Retrieved December 22, 2024, from http://www.essayworld.com/essays/Impact-Of-NAFTA-On-Canadas-Economy/104880
"Impact Of NAFTA On Canada's Economy." Essayworld.com. Essayworld.com, 9 Aug. 2015. Web. 22 Dec. 2024. <http://www.essayworld.com/essays/Impact-Of-NAFTA-On-Canadas-Economy/104880>
"Impact Of NAFTA On Canada's Economy." Essayworld.com. August 9, 2015. Accessed December 22, 2024. http://www.essayworld.com/essays/Impact-Of-NAFTA-On-Canadas-Economy/104880.
"Impact Of NAFTA On Canada's Economy." Essayworld.com. August 9, 2015. Accessed December 22, 2024. http://www.essayworld.com/essays/Impact-Of-NAFTA-On-Canadas-Economy/104880.
JOIN NOW
Join today and get instant access to this and 50,000+ other essays


PAPER DETAILS
Added: 8/9/2015 04:53:35 AM
Category: Economics
Type: Premium Paper
Words: 5369
Pages: 20

Save | Report

SHARE THIS PAPER

SAVED ESSAYS
Save and find your favorite essays easier

SIMILAR ESSAYS
» North America Free Trade Agreem...
» NAFTA: Canada's & Mexico's View...
» The NAFTA Scam
» North American Free Trade Agree...
» Canada's Geopolitical Role In T...
» How The Canadian Economy Is De
» The North American Free Trade A...
» The North American Free Trade A...
» Mexico
» Onward Westward
Copyright | Cancel | Contact Us

Copyright © 2024 Essayworld. All rights reserved