2. What?NAFTA stands for North American
Free Trade Agreement.
It is a treaty between Canada,
Mexico and the United States.
The agreement says the three
countries will take away all tariffs
and taxes for the products they sell
to one another.
The US buys oil, electricity, lumber,
car parts, and paper from Canada.
They sell cars, machines,
chemicals to Canada.
The US buys oil and minerals from
Mexico. They sell machines, car
parts, and farm equipment to
Mexico.
3. Who?
US President George H. Bush,
Canadian Prime Minister Brian
Mulroney and Mexican President
Carlos Salinas signed NAFTA.
The House of Representatives
approved NAFTA by a vote of 234
to 200.
The Senate voted 60 to 38 to
approve NAFTA.
President Bill Clinton signed it into
law.
4. When?
On December 17, 1992, NAFTA
was signed.
November 17, 1993, the House of
Representatives approved NAFTA.
November 20, 1993, the Senate
approved NAFTA.
December 8, 1993, the President
signed it into law.
January 1, 1994, when NAFTA
took effect.
6. Why?
The reason for NAFTA was to
eliminate trade barriers and
increase trade.
An example of a trade barrier is
tariff. A tariff is a tax on an export.
1993-2001 - US employment
increased by 15 million jobs.
1993-2001 trade between the 3
countries more than doubled.
7. Why?
The reason for NAFTA was to
eliminate trade barriers and
increase trade.
An example of a trade barrier is
tariff. A tariff is a tax on an export.
1993-2001 - US employment
increased by 15 million jobs.
1993-2001 trade between the 3
countries more than doubled.
