The North American Free Trade Agreement

Paper Summary:

Implemented on January 1, 1994, NAFTA, which stands for North American Free Trade Agreement, established free trade between the North American countries of United States, Canada and Mexico. This paper examines how there are many advantages such as the elimination of tariffs and how it has brought economic growth and raised the standard of living. It also looks at some of the disadvantages to the agreement such as deficits to the United States and a fear over loss of jobs to foreign workers.

From the Paper:

"There was some strong opposition to NAFTA coming from individuals and organizations. The strongest opposition came from labor unions. Labor unions in Canada and the U.S. feared that jobs would move out of the country due to lower labor costs in Mexico. Some people felt that it undermined small American companies and millions of American Jobs would go the underpaid workers in third world countries. Workers in the manufacturing industries felt threatened about their place in the industry. The big question was whether it would be more beneficial to the United States to let the low-wage jobs go to Mexico workers, and put more resources into building up the high-tech and service industries. "

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