North American Free Trade Agreement (NAFTA)

Examples of North American Free Trade Agreement (NAFTA) in the following topics:

• The North American Free Trade Agreement (NAFTA)

  • NAFTA is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.
  • The North American Free Trade Agreement (NAFTA) is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.
  • It superseded the Canada – United States Free Trade Agreement between the U.S. and Canada.
  • NAFTA has two supplements: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC).
  • This allowed corporations to trade freely and import and export various goods on a North American scale .

• Trade Blocs and Common Markets

  • A trade bloc is an agreement where regional barriers to trade are reduced or eliminated among the participating states.
  • The North American Free Trade Agreement (NAFTA) is an example of a formal trade bloc.
  • Trade blocs can be stand-alone agreements between several states, such as the North American Free Trade Agreement (NAFTA) or part of a regional organization, such as the European Union.
  • A common market is a first stage towards a single market, and may be limited initially to a free trade area with relatively free movement of capital and of services, but not so advanced in reduction of the rest of the trade barriers.
  • NAFTA is an agreement between the US, Mexico and Canada, as represented by the 3 flags in its logo.

• The North American Free Trade Agreement (NAFTA)

  • NAFTA is a 1994 agreement to removes taxes on products traded between North American countries (US, Canada and Mexico).
  • The North American Free Trade Agreement (NAFTA) is an agreement between Mexico, the United States and Canada.
  • It was also updated with the North American Agreement for Labor Cooperation, which helped people fight for better labor conditions.
  • In the area of intellectual property, the North American Free Trade Agreement Implementation Act made changes to the copyright law of the US, foreshadowing the Uruguay Round Agreements Act of 1994 by restoring copyright (within NAFTA) on certain motion pictures which had entered the public domain.
  • Discuss the goals of ways that the North American Free Trade Agreement (NAFTA) serves its members

• Policy Making and Special Interests

  • The debate over creating free trade areas, like the North American Free Trade Agreement (NAFTA) , placed business groups in competition with labor and environmental groups in garnering the attention of policymakers toward their divergent causes.
  • The NAFTA initialing ceremony, in October 1992.
  • Events, such as the signing of the North American Free Trade Agreement (NAFTA), highlight the differences among special interest groups and the competition that takes place between them to capture the attention of policymakers.

• Political and Regulatory Environment

  • The North American Free Trade Agreement (NAFTA) further boosts export sales by enabling companies to sell goods at lower prices because of reduced tariffs.
  • This agreement allows for the free exchange of trade, service, labor, and capital across the 10 independent member nations.
  • One of the potentially interesting results of trade agreements like ASEAN or NAFTA is that many products previously restricted by dumping laws, which are laws designed to keep out foreign products, would be allowed for sale.
  • Such agreements are designed to facilitate trade through the establishment of a free trade area, customs union or customs market.
  • Events, such as the signing of the North American Free Trade Agreement (NAFTA), highlight the differences among special interest groups and the competition that takes place between them to capture the attention of policymakers.

• Promoting Free Trade

  • Government can promote free trade by reducing tariffs, quotas, and non-tariff barriers.
  • Bilateral promotion of free trade is when two countries come to an agreement to reduce barriers together.
  • Examples of multilateral promotion of free trade are trade agreements such as the North American Free Trade Agreement (NAFTA) in which the US, Mexico, and Canada agreed to allow free trade among one another.
  • Governments can promote free trade and impact economic growth.
  • Describe the effects of free trade and trade barriers on long run growth

• Introduction to Foreign Trade and Global Economic Policies

  • This commitment to free trade has both economic and political roots; the United States increasingly has come to see open trade as a means not only of advancing its own economic interests but also as a key to building peaceful relations among nations.
  • U.S. trade deficits grew larger still in the 1980s and 1990s as the American appetite for foreign goods consistently outstripped demand for American goods in other countries.
  • Congress also grew reluctant to give the president a free hand to negotiate new trade liberalization agreements with other countries.
  • Despite these setbacks to free trade, the United States continued to advance trade liberalization in international negotiations in the 1990s, ratifying a North American Free Trade Agreement (NAFTA), completing the so-called Uruguay Round of multilateral trade negotiations, and joining in multilateral agreements that established international rules for protecting intellectual property and for trade in financial and basic telecommunications services.
  • Officially, the nation remained committed to free trade as it pursued a new round of multilateral trade negotiations; worked to develop regional trade liberalization agreements involving Europe, Latin America, and Asia; and sought to resolve bilateral trade disputes with various other nations.

• Trading blocs and agreements

  • The North American Free Trade Agreement (NAFTA) further boosts export sales by enabling companies to sell goods at lower prices because of reduced tariffs.
  • One of the potentially interesting results of trade agreements like NAFTA is that many products previously restricted by dumping laws, laws designed to keep out foreign products, would be allowed to be marketed.
  • Such agreements are designed to facilitate trade through the establishment of a free trade area customs union or customs market.
  • Free trade areas and customs unions eliminate trade barriers between member countries while maintaining trade barriers with nonmember countries.
  • Trade agreements are becoming a growing force for trade liberalization; the development of such agreements provides for tremendous opportunities for US companies doing business in Latin America and North America.

• A Summary of International Trade Agreements

  • International trade agreements are trade agreements across national borders intended to reduce or eliminate trade barriers to promote economic exchange.
  • NAFTA is a trilateral agreement between the United States, Canada and Mexico designed to minimize any trade or investment barriers between any of these countries (primarily in the form of tariffs).
  • Finally, Canadians have often objected to the NAFTA agreements due to the way in which the United States FDI employs hostile takeovers.
  • This map outlines each of the countries involved in the North American Free Trade Agreement, an international trade agreement focused on a geographic proximity.
  • The Asia-Pacific Economic Cooperation (APEC) is a forum of 21 countries in the Pacific Rim region, focusing on free trade and economic cooperation.

• Multilateralism, Regionalism, and Bilateralism

  • The first free trade agreement entered into by the United States, the U.S.
  • -Israel Free Trade Area Agreement, took effect in 1985, and the second, the U.S.
  • -Canada Free Trade Agreement, took effect in 1989.
  • The latter pact led to the North American Free Trade Agreement in 1993, which brought the United States, Canada, and Mexico together in a trade accord that covered nearly 400 million people who collectively produce some $8.5 trillion in goods and services.
  • As a result of NAFTA, the average Mexican tariff on American goods dropped from 10 percent to 1.68 percent, and the average U.S. tariff on Mexican goods fell from 4 percent to 0.46 percent.