North American Free Trade Agreement

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"The tripartite free trade agreement between the US, Canada and Mexico is known as the North American Free Trade Agreement (NAFTA). The provisions of NAFTA addresses tariffs and benefits to U.S. consumers, producers and workers. Rules of origin ensures that only North American goods benefit from tax shelters. NAFTA disposes of investment barriers for each of the member countries and mandates equal opportunities to enable businesses to be competitive. Opposition to NAFTA, however, has been increasing in the U.S. because of fears that the treaty will cost the country a lot of jobs and that environmental standards will be ignored reverberate through Congress. Studies seem to indicate that these concerns are not justified. President Carlos Salinas of Mexico has treated NAFTA as a major element in his development policy and as a way to "lock in" the national, rural, and urban elements of ..."

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