NAFTA(North American Free Trade Agreement)sajal789
this is regarding NORTH AMERICAN FREE TRADE AGREEMENT ITS MEMBERS NATIONS AND HOW IT HAS HELPED THE NATIONS TO COMPETE IN THE WORLD WITH OTHER COUNTRIES
The North American Free Trade Agreement (NAFTA) was implemented on January 1st, 1994 and is an agreement to remove both tariffs and investment barriers between the United States, Canada, and Mexico, as well as encourage further trade. NAFTA incorporates the previous 1989 agreement between the United States and Canada to remove tariffs on agricultural trade. Mexico and Canada had a separate agreement on agricultural products that eliminated most of the tariffs over a fifteen year period. The full provisions of the NAFTA agreement, including the elimination of all tariffs, were implemented fourteen years after the first signing of NAFTA on January 1st, 2008.
NAFTA(North American Free Trade Agreement)sajal789
this is regarding NORTH AMERICAN FREE TRADE AGREEMENT ITS MEMBERS NATIONS AND HOW IT HAS HELPED THE NATIONS TO COMPETE IN THE WORLD WITH OTHER COUNTRIES
The North American Free Trade Agreement (NAFTA) was implemented on January 1st, 1994 and is an agreement to remove both tariffs and investment barriers between the United States, Canada, and Mexico, as well as encourage further trade. NAFTA incorporates the previous 1989 agreement between the United States and Canada to remove tariffs on agricultural trade. Mexico and Canada had a separate agreement on agricultural products that eliminated most of the tariffs over a fifteen year period. The full provisions of the NAFTA agreement, including the elimination of all tariffs, were implemented fourteen years after the first signing of NAFTA on January 1st, 2008.
El 21 de abril de 2018, México y la Unión Europea logaron un Acuerdo en Principio sobre la modernización y actualización del Tratado de Libre Comercio de la Unión Europea y México (TLCUEM), haciendo público ciertos textos de dicho tratado. A la luz de lo anterior, nuestro socio, Adrián Vázquez, analiza las nuevas reglas que impactarán a la industria maquiladora de México. Dicha presentación se dio en el marco del Foro Index Reynosa y Vázquez Tercero & Zepeda (VTZ), realizado el día 16 de noviembre de 2018.
International trade is distorted by countries applying tariff and non tariff trade barriers.
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El 21 de abril de 2018, México y la Unión Europea logaron un Acuerdo en Principio sobre la modernización y actualización del Tratado de Libre Comercio de la Unión Europea y México (TLCUEM), haciendo público ciertos textos de dicho tratado. A la luz de lo anterior, nuestro socio, Adrián Vázquez, analiza las nuevas reglas que impactarán a la industria maquiladora de México. Dicha presentación se dio en el marco del Foro Index Reynosa y Vázquez Tercero & Zepeda (VTZ), realizado el día 16 de noviembre de 2018.
International trade is distorted by countries applying tariff and non tariff trade barriers.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
www.youtube.com/b2bwhiteboard
Or join us on Facebook today: www.facebook.com/b2bwhiteboard
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The North American Free Trade Agreement (NAFTA) is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.
Regional Economic Integration
Tomato Wars
opening case
When the North America Free Trade Agreement (NAFTA) went into effect in December 1992 and tariffs on imported tomatoes were dropped, U.S. tomato producers in Florida feared that they would lose business to lower-cost producers in Mexico. So they lobbied the government to set a minimum floor price for tomatoes imported from Mexico. The idea was to stop Mexican producers from cutting prices below the floor to gain share in the U.S. market. In 1996 the United States and Mexico agreed on the basic floor price of 21.69 cents a pound. At the time, both sides declared themselves to be happy with the deal.
As it turns out, the deal didn’t offer much protection for U.S. tomato growers. In 1992, the year before NAFTA was passed, Mexican producers exported 800 million pounds of tomatoes to the United States. By 2011 they were exporting 2.8 billion pounds of tomatoes, an increase of 3.5-fold. The value of Mexican tomato exports almost tripled to $2 billion during the same period. In contrast, tomato production in Florida has fallen by 41 percent since NAFTA went into effect. Florida growers complained that they could not compete against low wages and lax environmental oversight in Mexico. They also alleged that Mexican growers were dumping tomatoes in the United States market at below the cost of production, with the goal of driving U.S. producers out of business. In 2012, Florida growers petitioned the U.S. Department of Commerce to scrap the 1996 minimum-price agreement, which would then allow them to file an antidumping case against Mexican producers. In September 2012 the Commerce Department announced a preliminary decision to scrap the agreement.
At first glance, it looked as if the Florida growers were going to get their way. It soon became apparent, however, that the situation was more complex than it appeared at first glance. Some 370 business and trade groups in the United States wrote or signed letters to the Commerce Department in favor of continuing the 1996 agreement. Among the letter writers was Kevin Ahern, the CEO of Ahern Agribusiness in San Diego, a company that sells about $20 million a year in tomato seeds and transplants to Mexican farmers. In a letter sent to The New York Times, Ahern said, “Yes, Mexico produces their tomatoes on Page 254average at a lower cost than Florida; that’s what we call competitive advantage.” Ahern claimed that without the agreement, his business would suffer. Another U.S. company, NatureSweet Ltd., grows cherry and grape tomatoes under 1,200 acres of greenhouses in Mexico for the U.S. market. It employs 5,000 people, although all but 100 work in Mexico. The CEO, Bryant Ambelang, said that his company couldn’t survive without NAFTA. In his view, Mexican-grown tomatoes were more competitive because of lower labor costs, good weather, and more than a decade of investment in greenhouse technology. In a similar vein, Scott DeFife, a representative of th ...
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1. PRESENTATION
ON
REGIONAL TRADE BLOCKS
SPECIAL THANKS TO: PRESENTED BY
Dr. P CHAKRAVARTHI K. NARESH
REG NO 7085
2. Different regional trade blocs.
What is NAFTA?
The Elimination of Trade Barriers.
When is NAFTA Started?
Why was NAFTA formed?
Advantages.
Disadvantages.
NAFTA in US
Exports.
Imports.
Trial Balance.
Investment.
4. NAFTA is short for the North American Free Trade
Agreement. NAFTA covers Canada, the U.S.
and Mexico making it the world’s largest free trade
area (in terms of GDP). NAFTA was launched 20 years
ago to reduce trading costs, increase business
investment, and help North America be more
competitive in the global marketplace.
As of January 1, 2008, all tariffs between the three
countries were eliminated. Between 1993-2009, trade
tripled from $297 billion to $1.6 trillion.
5. NAFTA helped to eliminate a number of non-tariff measures affecting
agricultural trade between the United States and Mexico. Prior to January 1,
1994, the single largest barrier to U.S. agricultural sales was Mexico’s import
licensing system. However, this system was largely replaced by tariff-rate
quotas or ordinary tariffs.
All agricultural tariffs between Mexico and the United States were eliminated as
of January 1, 2008. Many were immediately eliminated and others were phased
out over transition periods of 5, 10, or 15 years. The immediate tariff eliminations
applied to a broad range of agricultural products. In fact, more than half the
value of agricultural trade became duty free when the agreement went into
effect. Tariff reductions between the United States and Canada had already been
implemented under the CFTA
Both Mexico and the United States protected their import-sensitive sectors
with longer transition periods, tariff-rate quotas, and, for certain products,
special safeguard provisions. However, now that the 15-year transition period
has passed, free trade with Mexico prevails for all agricultural products. NAFTA
also provides for strict rules of origin to ensure that maximum benefits accrue
only to those items produced in North America.
6. NAFTA was signed by President George H.W. Bush,
Mexican President Salinas, and Canadian Prime Minister
Brian Mulroney in 1992. It was ratified by the legislatures
of the three countries in 1993.
The U.S. House of Representatives approved it by 234 to
200 on November 17, 1993. The U.S. Senate approved it by
60 to 38 on November 20, three days later.
It was signed into law by President Bill Clinton on
December 8, 1993 and entered force January 1, 1994.
Although it was signed by President Bush, it was a priority
of President Clinton's, and its passage is considered one of
his first successes.
7. Article 102 of the NAFTA agreement outlines its
purpose: Grant the signatories Most Favored
Nation status.
Eliminate barriers to trade and facilitate the cross-
border movement of goods and services.
Promote conditions of fair competition.
Increase investment opportunities.
Provide protection and enforcement of intellectual
property rights.
Create procedures for the resolution of trade disputes.
Establish a framework for further trilateral, regional
and multilateral cooperation to expand NAFTA's
benefits.
8. NAFTA created the world’s largest free trade area. It
allows the 450 million people in the U.S., Canada and
Mexico to export to each other at a lower cost. As a
result, it is responsible for $1.6 trillion in goods and
services annually. Estimates are that NAFTA increases
the U.S. economy, as measured by GDP, by as much as
.5% a year.
NAFTA Increased Trade in All Goods and Services
Boosted U.S. Farm Exports
Created Trade Surplus in Services
Reduced Oil and Grocery Prices
Stepped Up Foreign Direct Investment
9. First and foremost, is that NAFTA made it possible for many U.S.
manufacturers to move jobs to lower-cost Mexico. The
manufacturers that remained lowered wages to compete in those
industries.
The second disadvantage was that many of Mexico's farmers were
put out of business by U.S.-subsidized farm products. NAFTA
provisions for Mexican labor and environmental protection were
not strong enough to prevent those workers from being exploited.
U.S. Jobs Were Lost
U.S. Wages Were Suppressed
Mexico's Farmers Were Put Out of Business
Maquiladora Workers Were Exploited
Mexico's Environment Deteriorated
NAFTA Called for Free Access for Mexican Trucks
10. On January 1, 1994, the North American Free Trade
Agreement between the United States, Canada, and
Mexico (NAFTA) entered into force.
Trade between the United States and its NAFTA partners
has soared since the agreement entered into force.
U.S. goods and services trade with NAFTA totaled $1.6
trillion in 2009 (latest data available for goods and services
trade combined). Exports totaled $397 billion. Imports
totaled $438 billion. The U.S. goods and services trade
deficit with NAFTA was $41 billion in 2009.
11. The United States has $918 billion in total (two ways)
goods trade with NAFTA countries (Canada and
Mexico) during 2010. Goods exports totaled $412
billion; Goods imports totaled $506 billion. The U.S.
goods trade deficit with NAFTA was $95 billion in
2010.
Trade in services with NAFTA (exports and imports)
totaled $99 billion in 2009 (latest data available for
services trade). Services exports were $63.8 billion.
Services imports were $35.5 billion. The U.S. services
trade surplus with NAFTA was $28.3 billion in 2009.
12. The NAFTA countries (Canada and Mexico),
were the top two purchasers of U.S. exports in
2010. (Canada $248.2 billion and Mexico $163.3
billion).
U.S. goods exports to NAFTA in 2010 were
$411.5 billion, up 23.4% ($78 billion) from 2009,
and 149% from 1994 (the year prior to Uruguay
Round) and up 190% from 1993 (the year prior to
NAFTA). U.S. exports to NAFTA accounted for
32.2% of overall U.S. exports in 2010.
13. The top export categories (2-digit HS) in 2010
were: Machinery ($63.3 billion), Vehicles (parts) ($56.7
billion), Electrical Machinery ($56.2 billion), Mineral
Fuel and Oil ($26.7 billion), and Plastic ($22.6 billion).
U.S. exports of agricultural products to NAFTA
countries totaled $31.4 billion in 2010. Leading
categories include: red meats, fresh/chilled/frozen
($2.7 billion), coarse grains ($2.2 million), fresh fruit
($1.9 billion), snack foods (excluding nuts) ($1.8
billion), and fresh vegetables ($1.7 billion).
14. The NAFTA countries were the second and third
largest suppliers of goods imports to the United
States in 2010. (Canada $276.5 billon, and Mexico
$229.7 billion).
U.S. goods imports from NAFTA totaled $506.1 billion
in 2010, up 25.6% ($103 billion), from 2009, and up
184% from 1994, and up 235% from 1993. U.S.
imports from NAFTA accounted for 26.5% of overall
U.S. imports in 2010.
The five largest categories in 2010 were Mineral Fuel
and Oil (crude oil) ($116.2 billion), Vehicles ($86.3
billion), Electrical Machinery ($61.8 billion), Machinery
($51.2 billion), and Precious Stones (gold) ($13.9).
15. U.S. imports of agricultural products from NAFTA
countries totaled $29.8 billion in 2010. Leading
categories include: fresh vegetables ($4.6 billion),
snack foods, (including chocolate) ($4.0 billion), fresh
fruit (excluding bananas) ($2.4 billion), live animals
($2.0 billion), and red meats, fresh/chilled/frozen ($2.0
billion).
U.S. imports of private commercial services* (i.e.,
excluding military and government) were $35.5 billion
in 2009 (latest data available), down 11.2% ($4.5
billion) from 2008, but up 100% since 1994.
16. The U.S. goods trade deficit with NAFTA was
$94.6 billion in 2010, a 36.4% increase ($25
billion) over 2009. The U.S. goods trade
deficit with NAFTA accounted for 26.8% of
the overall U.S. goods trade deficit in 2010.
The United States had a services trade
surplus of $28.3 billion with NAFTA countries
in 2009.
17. U.S. foreign direct investment (FDI) in NAFTA Countries
(stock) was $357.7 billion in 2009 , up 8.8% from 2008.
U.S. direct investment in NAFTA Countries is in nonbank
holding companies, and in the manufacturing,
finance/insurance, and mining sectors.
NAFTA Countries FDI in the United States (stock) was $237.2
billion in 2009, up 16.5% from 2008.
NAFTA countries direct investment in the U.S. is in the
manufacturing, finance/insurance, and banking sectors