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Why Was The North American Free Trade Agreement (Nafta) Established

Many small U.S. companies under NAFTA depended on exporting their products to Canada or Mexico. According to the U.S. Trade Representative, this trade has supported more than 140,000 small and medium-sized enterprises in the United States. [94] President Trump has spoken out on his strong stance on trade with other countries, which has led to the current trade war with China. The president has also been a notable critic of NAFTA. President Trump claims to end NAFTA, in accordance with his anti-free trade program with Mexico, and would also have a 35% tax on goods, such as Ford (F) – Get Report cars made in Mexico, according to CNN. After diplomatic negotiations in 1990, the heads of state and government of the three nations signed the agreement on 17 December 1992 in their respective capitals. [17] The signed agreement had to be ratified by each country`s legislative or parliamentary department. Article 102 of the nafta sets out its purpose. There were seven concrete objectives. The OBJECTIVE of NAFTA was to remove barriers to trade and investment between the United States, Canada and Mexico.

The implementation of NAFTA on January 1, 1994 resulted in the immediate removal of tariffs on more than half of Mexican exports to the United States and more than one-third of U.S. exports to Mexico. Within 10 years of the implementation of the agreement, all U.S.-Mexico tariffs should be eliminated, with the exception of some U.S. agricultural exports to Mexico, which are expected to expire within 15 years. [29] Most of the trade between the United States and Canada was already duty-free. NAFTA also aimed to remove non-tariff barriers and protect intellectual property rights on marketed products. Before sending it to the U.S. Senate, Clinton added two subsidiary agreements, the North American Agreement on Labor Cooperation (NAALC) and the North American Agreement on Environmental Cooperation (NAAEC) to protect workers and the environment, as well as to allay the concerns of many members of the House of Representatives. The United States has required its partners to comply with similar environmental practices and regulations.

[Citation required] After much attention and discussion, the U.S. House of Representatives passed the North American Free Trade Agreement Implementation Act on November 17, 1993. Supporters of the deal included 132 Republicans and 102 Democrats. The legislation passed the Senate on November 20, 1993, 61-38. [21] The Supporters of the Senate were 34 Republicans and 27 Democrats.

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