North American Free Trade Agreement

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"The North American Free Trade Agreement (NAFTA), which seeks to unify trade relations between the United States, Canada, and Mexico by eliminating tariffs and import restrictions, has become the source of much tension between business interests and organized labor in all three countries.

If ratified this year by each government, NAFTA will take effect January 1, 1994, and "phase out 99 percent of all tariffs over ten years and do away with remaining tariffs on politically sensitive products over 15 years" (Morici 50). Restrictive licensing requirements and import quotas on manufactured goods will be eliminated, and bilateral free trade will be created in fruits and vegetables, corn, beans, and other farm products (Morici 50).

Total U.S. economy dwarfs that of either Canada or Mexico ..."

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