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In: Economics

Evaluate a Statement about NAFTA NAFTA has produced significant benefits for the Canadian, Mexican, and U.S....

Evaluate a Statement about NAFTA

NAFTA has produced significant benefits for the Canadian, Mexican, and U.S. economy. Discuss.

Solutions

Expert Solution

NAFTA is a free trade agreement between Canada USA and Mexico. Nashta is also used to day for to the the Tripartite trading bloc of North American countries. After remove duties on most of all US exports shipping to Mexico and Canada.the agreement gradually phased out other tariff and duties over the period of 14 years. Nashta was controversial when first proposed mostly because it was first free trade agreement involving two well developed countries and a developing country.some people felt that allowing free trade with a developing country provides an incentive for US based business to move their operations to that country.

NAFTA has produced significant benefit for Canada,Mexico and USA economy as under:-

A. NAFTA was good for GDP of partnering country.
B. NAFTA was good for diplomatic relations between partner countries.
C. NAFTA increase export and created regional production blocs.
D. NAFTA lowered the price of many goods traded between partnering countries.


Generally lower price for consumer goods as one of the main benefit that lower tariff can bring the USA citizens. The average American has profited from lower price as a result of NAFTA. NAFTA is strengthens the diplomatic ties between partner countries. And by this way NAFTA has produced significant benefit for Canada Mexico and US economy.

Rahul Sunny answered 1 year ago
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