Nafta Trade Agreement With Canada

Take advantage of U.S. farmers, ranchers and agricultural businesses by modernizing and strengthening food and agricultural trade in North America. In a 60-minute interview in September 2015, presidential candidate Donald Trump described NAFTA as “the worst trade deal ever approved in the United States”[121] and said that if elected, “he would either renegotiate or we would break it.” [122] [123] Juan Pablo Castaen [es], chairman of the trade group Consejo Coordinador Empresarial, expressed concern about the renegotiations and the desire to focus on the automotive industry. [124] A number of trade experts have stated that abandoning NAFTA would have a number of unintended consequences for the United States, including limited access to its key export markets, lower economic growth and higher prices for gasoline, cars, fruits and vegetables. [125] Members of the Mexican private initiative noted that many laws needed to be adapted by the U.S. Congress to eliminate NAFTA. Finally, this would give rise to complaints from the World Trade Organization. [124] The Washington Post found that a review of academic literature by the Congress Research Service concluded that “the overall net effect of NAFTA on the U.S. economy appears to be relatively modest, mainly because trade with Canada and Mexico accounts for a small percentage of U.S. GDP.” [63] The North American Free Trade Agreement (NAFTA) was a three-country agreement negotiated by the governments of Canada, Mexico and the United States that came into force in January 1994. NAFTA eliminated most tariffs on goods traded between the three countries, with a focus on trade liberalization in agriculture, textiles and automobiles.

The agreement also aimed to protect intellectual property, establish dispute resolution mechanisms and implement labour and environmental protection measures through ancillary agreements. The granting of entry only indicates that the person meets the requirements of the law and regulations and the provisions of Chapter 16 of NAFTA. NAFTA has also used a new era of free trade agreements, which have multiplied as World Trade Organization (WTO) global trade negotiations, and has played a pioneering role in integrating labour and environmental provisions, which have become increasingly broad in subsequent free trade agreements [PDF].