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The Pros And Cons Of NAFTA

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Donald Trump signed the first package of documents on the revision of trade relations with Mexico and Canada under the North American Free Trade Agreement (NAFTA) in January 2017 (Jacobs, Agren, & Rushe, 2017). This agreement has operated for 23 years, but the new president believes that the United States receives an extremely small benefit from it. The ardent supporters of the USA’s exit from NAFTA believe that this measure will lead to the return of one million jobs places in the United States. There are no strong arguments for and against this forecast. NAFTA has both positive and negative points of influence on the US economy.
North American Free Trade Aggregate (NAFTA) is a free trade agreement between Canada, the US and Mexico. The NAFTA agreement was signed on December 17, 1992 and entered into force on January 1, 1994 (NAFTA, 2017). The zone of single market was formed on the territory of these states. In accordance with the …show more content…

The volume of mutual exports between NAFTA countries in 1994-2013 increased from $ 297 billion to $ 1,189 billion. The share of mutual exports over the same period has increased from 41.4% to 49.2% (World Investment Report, 2014). A significant increase in the number of jobs occurred in all countries (primarily in Canada and Mexico) following the results of 20 years of NAFTA. In 1993-2013, the number of jobs in Mexico increased from 31.3 million to 51.5 million, in Canada from 12.8 million to 19.1 million, while in the United States only from 120.0 million people To 155.4 million people (Weaver, 2015). The impact of NAFTA on the economies of member-countries is obvious. The NAFTA agreement was designed to promote economic growth by strengthening competition in the domestic market and encouraging investment from both domestic and foreign sources (Feinberg, Hufbauer, & Schott,

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