Week 2 Regional Integration For and Against Articles

Running head : NAFTA

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NAFTA

NAFTA or the North America free trade agreement is a trade agreement between Canada , Mexico and the United States and it was enacted in the year 1994 . Its main aim is to promote trade within the region it covers through elimination of trade barriers such as trade tariffs . It also aims at ensuring economic growth for its member states . Since its inception and subsequent ratification , NAFTA has attracted different reactions from different sectors in the United States as

well as the other member states . While some favor its existence , others are cynical arguing that it has not lived up to its promises

Arguments in favor of NAFTA agreement

One of the major arguments in favor of the North America free trade area is that it led to increased trade within the region thus leading to improvement of the overall economy of the United States as well as the other two countries . As mentioned above , NAFTA led to the abolishment or elimination of trade tariffs and other trade barriers thus opening up the countries boundaries for trade . Prior to the formation of the NAFTA agreement , United States and Canada were having a trade agreement and inclusion of Mexico thus expanded the market for these two countries as well as for Mexico . The American income from export doubled after formation of NAFTA agreement thus leading to a growth of the overall economy . Removal of trade barriers meant that the countries could trade freely...