Benefits Of NAFTA

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The NAFTA trade agreement has been a hot topic of discussion for many years especially in political and presidential elections in the United States. NAFTA was first established 1994 and fully implemented on January 1, 2008. This agreement has received a lot of attention both negative and positive. However, NAFTA does offer great benefits to the United States. The main goal of NAFTA was to open up trade and to improve the economies of the three countries involved, which included the United States, Mexico, and Canada. The benefits of the North American Trade agreement to the United States include increased trade, the creation of more jobs, and increased investment opportunities. Increased trade was one of the main goals in implementing…show more content…
Chamber of Commerce figures that some six million U.S. jobs depend on trade with Mexico and another eight million on trade with Canada.” However, not everyone thought this would be a benefit, a presidential candidate by the name of Perot warned the citizens of the United States to listen for a “giant sucking sound” as jobs were moved across the border. This statement caused many American’s to oppose the agreement before it was given a chance. However, when jobs where moved across the border new jobs were created in its place. Those jobs that were created in place of the ones were lost often paid better and were demanded more than the previous job. There is no arguing that people don’t want better pay and more jobs coming into the economy, it’s a winning situation. Other than the new job creation, this opened the doors for other business adventures such as opening up businesss in the other country as well as keeping one in the home country. “Our trade with Mexico already accounts for 600,000 jobs”. Most people assume that by opening the door to other countries for business that job loss would occur immediately as those people would work for cheaper wages. “Employment did increase by 24 percent as a result of NAFTA. This was a major shock to those who firmly believed that jobs were going to be loss. “According to a November 12 Washington Post article, a study done by three Federal Reserve economists showed that NAFTA increased wages in the U.S. by 0.17%, in Canada by 0.96% and in Mexico by 1.3%.” Proving many supporters that they were correct in supporting the agreement in the first

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