What is NAFTA? NAFTA is an acronym for the North Atlantic Free Trade Agreement which exists between three countries: Canada, the United States, and Mexico. This trade agreement is the world's largest free trade area in terms of the Gross Domestic Product (GDP), and was launched 15 years ago to reduce trading cost, increase business investment, and help North America be more competitive in the global market place.
Has it worked, and if so, for whom?
Over time, we will begin to develop an answer to this question by considering the pros, and cons of Neoliberalism, and how its policies and practices effect our lives.
As of January 1, 2008, all tariffs between the three countries were eliminate. Between 1993-2009, trade tripled from $297 billion to $1.6 trillion.
(Source: USTR, NAFTA)
In addition to NAFTA, the United States has signed free trade agreements with 17 countries. These countries are:
Australia;Bahrain, Canada, Chile, Costa Rica, Dominican Republic,
El Salvador, Guatemala, Honduras, Israel, Mexico, Morocco,
Nicaragua, Oman, Peru, and Singapore.
The United States has signed free trade agreements with Colombia, Korea, and Panama, but Congress must enact legislation to approve and implement each individual agreement in order for them to go into effect.
The United States is also in negotiations as a regional, Asia-Pacific trade agreement, known as the Trans-Pacific Partnership (TTP) Agreement which the objective of shaping a high-standard, broad based regional pact.
Related Links
World Trade Organization (WTO) & Multilateral Affairs
Trade & Investment Framework Agreements
Bilateral Investment Treaties
Other Initiatives
Has it worked, and if so, for whom?
Over time, we will begin to develop an answer to this question by considering the pros, and cons of Neoliberalism, and how its policies and practices effect our lives.
As of January 1, 2008, all tariffs between the three countries were eliminate. Between 1993-2009, trade tripled from $297 billion to $1.6 trillion.
(Source: USTR, NAFTA)
In addition to NAFTA, the United States has signed free trade agreements with 17 countries. These countries are:
Australia;Bahrain, Canada, Chile, Costa Rica, Dominican Republic,
El Salvador, Guatemala, Honduras, Israel, Mexico, Morocco,
Nicaragua, Oman, Peru, and Singapore.
The United States has signed free trade agreements with Colombia, Korea, and Panama, but Congress must enact legislation to approve and implement each individual agreement in order for them to go into effect.
The United States is also in negotiations as a regional, Asia-Pacific trade agreement, known as the Trans-Pacific Partnership (TTP) Agreement which the objective of shaping a high-standard, broad based regional pact.
Related Links
World Trade Organization (WTO) & Multilateral Affairs
Trade & Investment Framework Agreements
Bilateral Investment Treaties
Other Initiatives
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