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How Did The Nafta Affect Canada

648 Words3 Pages

Throughout Canadian history, free trade in particular has changed Canada and it’s economy for the better. The free trade agreement (FTA) signed in 1989, assisted Canada’s economy in many ways, such as removing most of the tariffs on trade goods, increasing trade with the USA, and leading the way to the creation and signing of the North American Free Trade Agreement (NAFTA). All of these boosted Canada’s economy and strengthened the bonds with new and old trade partners. After this agreement was established, it becomes clear very quickly that the FTA was exactly what Canada needed. As well as opened new doors to opportunities for Canada.

Before the FTA, tariffs on trade goods between countries were very high, making it very hard to make money as any exports were taxed immediately. These tariffs placed a …show more content…

Since the FTA had shown such great results for Canada as well as the US, the partnership then extended to mexico, further establishing bonds between Canada’s new trading partner. “ The NAFTA superseded the Canada-U.S. Free Trade Agreement (CUFTA), which had come into effect five years earlier on January 1, 1989. At that time, Canada and the United States signed an historic agreement that placed them at the forefront of trade liberalization.” (Government of Canada, Foreign Affairs Trade and Development Canada, Deputy Minister of Foreign Affairs, Assistant Deputy Minister Corporate Planning, Finance and Information Technology, Deputy Minister of International Trade, Area Management Office. Web.8 Dec. 2015) NAFTA was established only a short five years after the FTA was first signed, the effects from the FTA greatly encouraged NAFTA to then be established so close in time. Without the FTA, these countries would not be so close in trade and political stances as these agreements linked them

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