Ever since the North American Free Trade Agreement was signed over 20 years ago, a lot of speculation on whether the treaty brought more benefits than downsides to the three countries involved arouse.
Many politicians, investors, finance executives and business owners have given their opinion on how this agreement has improved or affected their ventures, but truth is that only by the use of numbers we can reveal the extent to which its critics have been proven wrong:
- The US has experienced job losses since NAFTA came into effect
- NAFTA has not resulted in any benefits for the US agriculture
- NAFTA has made the US lose its sovereignty and independence
- NAFTA negatively impacts the North American manufacturing base
- The treaty has given rise to Environmental Damage
- Commercial trade with Mexico and Canada has originated over 14 million US jobs and around 35% of these jobs come as a result of the constant increase in NAFTA commerce.
- Canada and Mexico accounted for 37% of the total growth of US agricultural exports during the first 15 years since the treaty was signed.
- NAFTA has allowed American farmers to increase their commerce. In average, one in every ten acres is destined for Canada and Mexico exports.
- NAFTA as any other international treaty, is an agreement signed voluntarily between countries, in which each of their own governments ratified, meaning that Canada. Mexico and the US are forced to comply with the agreement by International Law and are not ruled by the laws of the rest of the countries.
- NAFTA has opened doors for new sources of materials, technologies, capital and more competitive talent acress North America.
NAFTA members created the North American Agreement on Environmental Cooperation (NAAEC) and some of its initiatives include:
- Handling practices for toxic chemicals;
- Creation of the first Mexican National Air Emissions Inventory;
- The North American Bird Conversation Initiative
- Promotion of best practices to perform commercial trade without affecting the environment.