On January 1, 1994, Canada, Mexico And The United States Passed The North

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NAFTA

On January 1, 1994, Canada, Mexico and the United States passed the North
American Free Trade Agreement (NAFTA). Promoted to Congress by the Clinton
administration, with the assurance that it would give rise to more jobs -
exactly how many though, is not precisely known. Yet, according to the Journal
of Commerce, the U.S. went from having a $5.5 billion trade surplus with Mexico
before NAFTA, to having a massive $16 billion trade deficit today. At the same
time, it is estimated that 400,000 Americans have lost manufacturing jobs
because of NAFTA within the treaty's first three years, that's about the same
number of jobs which have been created in the Mexican maquiladoras. Instead of
sharing of the wealth and profit, one might think that there has been a big
transfer of wealth from north to south of the border and that Mexican laborers
have profited at the expense and torment of their American counterparts. The
reality is that working conditions, wage, health and safety standards in Mexico
have deteriorated. One American employee for a steering-wheel plan made
approximately $10.46 per hour, compared to his Mexican counterpart, who makes
about $0.75 per hour. Within the agreement, it stated "…the government of
Canada, the government of the United Mexican States and the government of the
United States of America resolved to establish a free trade area." In
addition, NAFTA also determined to: ü Strengthen the special bonds of
friendship and cooperation among the nations; ü Contribute to the harmonious
development and expansion of world trade and provide a catalyst to broader
international cooperation; ü Create an expanded and secure market for the goods
and services produced in their territories; ü Establish clear and mutually
beneficial rules governing their trade; ü Create new employment opportunities,
improve working conditions and living standards in their respective territories;
ü Ensure a predictable commercial framework for business planning and
investment. A very important section of NAFTA is the elimination of tariffs,
which are charged for imports and exports within the three nations. Along with
the eradication of tariffs, the agreement opened up enormous opportunities,
creating a $6.3 billion GNP for the three countries. As mentioned in the
agreement objective, NAFTA will and should, "create economic
opportunities". The three nations, following the agreement, will move more
and more into the liberalization of trade, at the expense of American...

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