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NAFTA - Online Papers

NAFTA


In January 1994 the United States, Mexico and Canada entered into the North American Free Trade Agreement () and created the largest free trade sector and the richest market in the world. Over 410 million consumers are able to take advantage of the benefits of this treaty. In 1995 Chile was added to the treaty and will become a full-fledged member early in the next century.
The North American Free Trade Agreement is unique because the treaty not only created the largest free trade zone in the world but also outlined economic policies, which set the standard for many other treaties and addressed other issues such as environment and working conditions.
In order to better understand , the ...

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a set of standards that working conditions would improve through increased wages and newer safer facilities. Creating an expanded and safe market for exports/imports and services was also a goal and is ongoing even today as more goods and services flow across the borders. Trade rules that were beneficial to all treaty members were established and have 'standardized' the quality of all trade items as well as provided the environmental support to clean-up any environmental problems. The last major goal of the treaty was to foster world trade and set the example for trade cooperation in the world and encourage other countries to establish more free trade areas.
There are many economic incentives for all the treaty members to include access to the larger North American market. There are over 410 million consumers with new opening investment and development opportunities for North American industries with exports as the driving force. Elimination of tariffs (Canadian and United ...

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All three countries have benefited from the treaty but not without some initial problems. Other economic concerns were higher prices in Mexico and lowering of wages in Canada and the United States. On the whole, wages increased in all three-treaty nations, but Mexico still remains under the poverty level in some regions. Immigration of migrants to the United States from Mexico was another concern as it was assumed that the influx would increase. Also of concern for all treaty members was the dislocation of laborers, and increased competition for jobs.
One of the benefits that were used as a selling point for the North American Free Trade Agreement was an environmental standard for ...

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PAPER DETAILS
Added: 9/26/2007 06:51:18 PM
Category: Economics
Type: Premium Paper
Words: 1927
Pages: 8

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