Essay On NAFTA

624 Words2 Pages

In 1993, the North American Free Trade Agreement (NAFTA) was signed by President Bill Clinton. It was said that Clinton hoped the agreement would encourage other nations to work toward a boarder world-trade pact. In 1994, the agreement came into effect, creating one of the world’s largest trade zones between United States, Canada, and Mexico. In 1984, the motive of NAFTA originally started with President Ronald Reagan, who campaigned on the North American common market and Congress had passed the Trade and Tariff Act. Negotiations were first disputed in 1988 between U.S. and Canada which started the Canada-U.S. Free Trade Agreement. Later Canada requested a trilateral agreement, which led to the NAFTA. The goal of NAFTA was to systematically eliminate most tariff and non-tariff barriers to trade and investment between the countries. NAFTA has allowed U.S., Mexico, and Canada to import and export to other at a lower cost, which has increased the profit of goods and services annually. Because the increase in the trade marketplace, NAFTA reduces inflation, creates agreements on intern...

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