Impact Of The North American Free Trade Agreement - 991 Words

A free trade agreement is a treaty between two or more countries to establish a free trade range where commerce in goods and services can be regulated across common borders, and without tariffs. An extensively recognized trade agreement is the European Union. The European Union has been advantageous by providing, safety, international mobility, employment mobility, residential mobility, and tax options. However, free trade agreements are not always beneficial. This paper will illustrate the negative impact of the North American Free Trade Agreement (NAFTA) in the United States. NAFTA is the first trade agreement that coalesced Mexico, Canada, and the United States. The new law was signed by President Clinton on December 8, 1993, impending into effect on January 1, 1994. NAFTA was implemented by the use of fast track. Fast track allowd Clinton to sign the agreement before congress voted on it. It also guaranteed that the executive branch can write legislation not subject to committ ee markup that would implement the pact and alter wide swaths of existing U.S. law. In terms of the dictionary, Fast Track guarantees the House and the Senate vote on the bill within 90 days, with floor amendments forbidden and a maximum of 20 hours of debate. Since the agreement, NAFTA has eliminated most if the non-tariff and tariff barriers to increase free trade and investment. NAFTA is regulated by various institutions that focus on the Agreement’s rules being implemented andShow MoreRelatedThe Impact Of The North American Free Trade Agreement1501 Words   |  7 PagesThe North American Free Trade Agreement was created in order to help relations between Canada, The United States, and Mexico. While Canada had previous relations with the US with free trade when Mexico became a part of the talks in 1991 thus creating the North American Free Trade Agreement otherwise known as NAFTA. 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