About the NAFTA is about trade. Trade as in buying and selling and as in an international exchange of goods and services. NAFTA as in the North American Free Trade Agreement between Canada, United States and Mexico.
NAFTA benefits as in lower prices of imports and consumer benefits. Some domestic industries grow and hire more workers, while others suffer because they cannot compete. Agreements such as NAFTA do, in most cases, require adjustments and compliance between companies and consumers.
In 1984, the American Congress passed the Trade and Tariff Act followed by the beginning of the NAFTA negotiations by President Reagan. Canadian Prime Minister Mulroney agreed to begin the negotiations for a Canada-U.S. Free Trade Agreement with President Reagan.
In 1990, Reagan's successor, President Bush, began negotiations with Mexican President Carlos Salinas for a liberalised trade agreement between the two countries. In 1991, Canada requested a trilateral agreement.
In 1992, the North America Free Trade Agreement, the NAFTA Agreement was signed by American President George W. Bush, Mexican President Carlos Salinas de Gortari and Canadian Prime Minister Brian Mulroney. President Bill Clinton signed the agreement into law in 1993.
The Canada NAICS 2017 and the Canada NAPCS 2017 are based on NAFTA, the North American Free Trade Agreement between Canada, United States and Mexico. An agreement that achieves two goals, expand trade between our three countries and ensure our respective competitivity in the global market.
Nowadays, the North American Free Trade Agreement (NAFTA) enables Canadian, American and Mexican businesses and companies to manufacture products and services together and to sell products and services to each other.
Information about the NAFTA includes it's main purpose that was and still is, to reduce trading costs, increase business investments and help Canada, the largest, United States and Mexico to be more competitive and to profit from the trade NAFTA benefits.
Recent amends to the NAFTA resulted in a new agreement between the three countries. An agreement now called CUSMA that still needs to be ratified by each country. A NAFTA agreement that remains in force and a CUSMA agreement that will eventually reinforce the economic ties between the three countries.
Even if, on September 30, 2018 a Canada-United-States-Mexico Agreement (CUSMA) has been reached by the three countries, the original North American Free Trade Agreement (NAFTA Agreement) still remains in force.
While the U.S. administration would like the United-States-Mexico-Canada Agreement (USMCA) enter into force on January 1, 2020, it is too early, impossible even, to forecast any outcome as yet.
Montreal GLOBAL Kit
About the NAFTA by Rachel Louise Barry