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North American Free Trade Agreement (NAFTA)

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North American Free Trade Agreement (NAFTA)
What is NAFTA? NAFTA stands for, "North American Free Trade Agreement." NAFTA is an agreement that was signed between Mexico, U.S., and Canada. NAFTA was put into place on January 1, 1994. The reasoning behind NAFTA was to create an agreement was that helped to eliminate "tariff" and also non-tariff barriers to free trade among, Mexico, U.S., and Canada. The concept of trade liberalization helps us to understand how NAFTA works because trade liberalization is, "the removal of restrictions or barriers on the free exchange of goods between nations." (Investopedia) This definition is exactly the reason behind NAFTA. One positive impact was the increase in the economic growth. This resulted in the U.S. economy growing by 0.5% per year. Another …show more content…
Although Canada has a long list of demands, I don't think that this will create a new "Canadianized" NAFTA. There has been evidence that Canada's list is not nearly as long as the U.S regarding their demands. (insert) I don't think that Canada's request will be strong enough to overpower the US's demands. The Labor standards demand, in my opinion, will do enough to solve some of the underlying issues of current/past NAFTA. Labor standards will do enough to solve the underlying issues of current NAFTA by making sure that the workers get better pay, better working conditions and all in all are treated better. Gender rights, will not fix the issues because I don't think what is being demanded is going to solve the current issues. Their aim is to help support women-owned business and to help them contribute to the growth of the economy, but this alone doesn't solve the gender issues of the gap between men and women. Environmental standards will solve the issues because by updating the NAFTA environmental standards this will help to modernize the current environment. Good consequences of the environment renegotiation include updating the NAFTA environmental system. This presents many great opportunities to help better our environment and to protect it in a modernized way. By updating the system this will present opportunities to grow Canada's economy. With a strong environmental protection, this will attract investments and will also present more job opportunities. This will result because with a better environment this will allow room for more economic growth. If the environmental negotiations fail, the economy will miss out on a great opportunity to make a fortune and to expand their
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