Question

Consider the success or failure of NAFTA. Do you feel that NAFTA should be extended to the entire western hemisphere

Answer 1

NAFTA stands for North American Free Trade Agreement. NAFTA is a treaty entered into by the United States, Canada, and Mexico. NAFTA came into effect in 1994. The primary motive is to increase economic activity between the United States, Mexico and Canada. Most tariffs on trade between these nations were eliminated to build a strong foundation for economic growth in these countries.

In my opinion NAFTA has been successful in its objectives thus should be extended to the entire western hemisphere. According to the trade agreement, NAFTA delivered its main objective of expanding the trade. By every reasonable measure, NAFTA has been a public policy success, thus the extension will create wide new markets for U.S. exports and solidify free-market democracy in that region. It has institutionalized and deepened Mexico’s drive to liberalize and modernize the economy, society and political system of the nation. Moreover has spurred investment, trade and economic integration in North America. Additionally, in terms of environmental protection NAFTA had some advantages. It was our first trade agreement to include an environmental assessment and a side agreement on the environment. Also it is a way to boost the U.S. monetary intensity and employment creation at home.