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    Am Rut A

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    Uma Walikar
    NAFTA is the North American Free Trade Agreement signed in 1992 by the leaders of Canada, Mexico, and the United States to reduce trade barriers and increase business investment between the three countries. It eliminated most tariffs and facilitated the movement of goods and services across borders. NAFTA also protected intellectual property rights, established procedures for resolving disputes, and created a framework for further regional cooperation to expand its benefits. While NAFTA increased trade opportunities, it also allowed some manufacturers to move jobs to Mexico to take advantage of lower costs and negatively impacted some Mexican farmers and workers.

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    Am Rut A

    Uploaded by

    Uma Walikar
    52 views10 pages
    NAFTA is the North American Free Trade Agreement signed in 1992 by the leaders of Canada, Mexico, and the United States to reduce trade barriers and increase business investment between the three countries. It eliminated most tariffs and facilitated the movement of goods and services across borders. NAFTA also protected intellectual property rights, established procedures for resolving disputes, and created a framework for further regional cooperation to expand its benefits. While NAFTA increased trade opportunities, it also allowed some manufacturers to move jobs to Mexico to take advantage of lower costs and negatively impacted some Mexican farmers and workers.

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    NAFTA is the North American Free Trade Agreement signed in 1992 by the leaders of Canada, Mexico, and the United States to reduce trade barriers and increase business investment between the three countries. It eliminated most tariffs and facilitated the movement of goods and services across borders. NAFTA also protected intellectual property rights, established procedures for resolving disputes, and created a framework for further regional cooperation to expand its benefits. While NAFTA increased trade opportunities, it also allowed some manufacturers to move jobs to Mexico to take advantage of lower costs and negatively impacted some Mexican farmers and workers.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    52 views10 pages

    Am Rut A

    Uploaded by

    Uma Walikar
    NAFTA is the North American Free Trade Agreement signed in 1992 by the leaders of Canada, Mexico, and the United States to reduce trade barriers and increase business investment between the three countries. It eliminated most tariffs and facilitated the movement of goods and services across borders. NAFTA also protected intellectual property rights, established procedures for resolving disputes, and created a framework for further regional cooperation to expand its benefits. While NAFTA increased trade opportunities, it also allowed some manufacturers to move jobs to Mexico to take advantage of lower costs and negatively impacted some Mexican farmers and workers.

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    By Amruta Walikar

    NAFTA is short for the North American Free Trade Agreement. NAFTA was launched 15 years ago to reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace. NAFTA was signed by president George H.W.Bush,Mexican President Salinas,and Canadian Prime Minister brian Mulroney in 1992.
    It was signed into law by President Bill Clinton on December 8,1993 and entered force january 1,1994. although it was signed by President Bush, it was a priority of President Clintons, and is passage is considered one of his first successes.

    The impetus for NAFTA actually began with President Ronald Regan, who campaigned on North American common market. In 1984, congress passed the Trade and Tariff Act. This is important because it gave the President fast-track authority to negotiate free trade agreements , while only allowing the congress the ability to approve or disapprove, not change negotiating points.

    Grant the signatories Most Favoured Nation status. Eliminate barrers to trade and facilitate the crossborder movement of goods and services. Promote conditions of fair competition. Increase investment opportunties. Provided protection an enforcement of intellectual property rights. Create procedures for the resolution of trade disputes. Establish a framework for further trilateral, regional and multilateral cooperation to expand NAFTAs benefits.

    The agreement came into force on January 1,1994. The North American Free Trade Agreement has two supplements, the North American Agreement on Environmental Cooperation (NAAEC) and the North It is an agreement signed by the governments of Canada, Mexico and the United States, creating a trilateral trade block in North America. American Agreement on Labor Coopeaton(NAALC).

    Non Tariff Barriers: Elimination of tariff is the largest function OF NAFTA .

    Product Origin

    Import Protection

    This agreement will remove most barriers to trade and investment among the Unted States, Canada, and Mexico. It creates a more fluid medium for transactions between the North American countries. The North American Free Trade Agreement was a pivotal decision affecting the transfer of goods between the United States , Canada and Mexico. NAFTA provides these nations with a more efficient way to import and exeute goods throughout North America.

    NAFTA made it possible for many manufacturers to move jobs to lower-cost Mexico. The manufacturer that remained lowered wages to compete in those industries. Many of the Mexicos farmers were put out of business by U.S. subsdized farm products. NAFTA provisions for Mexican labor and environmental protection were not strong enough to prevent those workers from being exploited.

    Mexico , being part of NAFTA and having a large number of important partners including the EU, offers good opportunity to indian companies and enhanced market access through investments and joint ventures, said an official source. India exports to Mexico are engineering geuticals,goods,chemicals and pharmaceuticals, gems and jewellery, and textiles, while Mexican exports to India are dominated by crude and petrochemicals, which helps to increase the economy of the country.

    NAFTA has eliminated trade barriers, increased investment opportunities, and established procedures for resolution of trade dsputes. Most important , it has increased the competitiveness of the three countries involved on the global marketplace. This has become especially important with the launch of the European Union.

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