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NAFtA

NAFtA. By: Rebekah Snowden Period 3. Why it was Started. They wanted to: Eliminate barriers to trade Promote fair competition Increase investment opportunities Create resolutions for trade disputes. How it started. Ratified in 1993 House:234-200, November 17 Senate:60-38, November 20

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NAFtA

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  1. NAFtA By: Rebekah Snowden Period 3

  2. Whyit was Started • They wanted to: • Eliminate barriers to trade • Promote fair competition • Increase investment opportunities • Create resolutions for trade disputes

  3. Howit started • Ratified in 1993 • House:234-200, November 17 • Senate:60-38, November 20 • Signed into law by Clinton • December 8, 1993

  4. What it did • Reduced trading costs • Increased business investments • Helped North America be competitive • Tariffs were eliminated • Trade tripled • $297 billion to $1 trillion

  5. Pros • Creates middle-class jobs • Less expensive material • Lower cost to make goods • Increases sales & profits • Helps poorer countries.

  6. Cons • more U.S. jobs lost • higher-wage jobs lost • Many agreements are bad for U.S. • Ex) 700,000-6,000 • rising income inequality

  7. Morecons • Workers being exploited & harmed. • Environment in other countries is defiled • Corporate profits soar • Individual wages stay same

  8. Imports & Exports • Imports • Canada $339.5 billon • Mexico $215.9 billion • largest & third largest suppliers • U.S. imports totaled $555.4 billion • Exports • Canada $261.2 billion • Mexico $151.2 billion • Top two purchasers • U.S. exports totaled $412.4 billion

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