The North American Free trade Agreement is one of the regional trade blocks in which its members are characterize by different sources of national capital. It is a treaty between the United States, Canada, and Mexico enacted in January 1, 1994 with the purpose of eliminating or reducing tariff barriers among its members and to remove investment restrictions and protect intellectual rights. According to the article, N.A.F.T.A. stablish some standards or parameters, the three countries agreed to toughen health, safety, and industrial standards. The treaty was created in order to make it easier between its members to trade, but, numeral negative impacts has affected its members that has led to many people argue if the North American Free trade Agreement overcome its negative impacts on the economy.
The North American Free trade Agreement is one of the largest free market in the world and I believe that its pros does overcome its negative impacts in the economy. Usually, regional trades are more efficient because they involve a group of countries that due to the same geographical proximity (similar taste, better accessible channel of distribution) are decided to cooperate with one another for the greater benefit of the allied parties (International Business). In other words, they are more efficient. For example, one of
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Also, as the article stated, the North American Free trade Agreement opened the borders of Mexico to American truckers and “streamlining border processing and licensing requirements.” (North American Free trade Agreement). Again, this treaty not only solve one of the biggest obstacles but, according to the article, it helped decreasing the trade barriers in agriculture, increased investment opportunities, expanded telecommunications trade, etc. (North American Free trade