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On January 1 1994 Canada Mexico and the United States passed the North American Free Trade Agreement NAFTA Promoted to Congress by the Clinton administration with the assurance that it would give rise to more jobs - exactly how many though is not precisely known Yet according to the Journal of Commerce the US went from having a 55 billion trade surplus with Mexico before NAFTA to having a massive 16 billion trade deficit today At the same time it is estimated that 400000 Americans have lost manufacturing jobs because of NAFTA within the treatys first three years thats about the same number of jobs which have been created in the Mexican maquiladoras Instead of sharing of the wealth and profit one might think that there has been a big transfer of wealth from north to south of the border and that Mexican laborers have profited at the expense and torment of their American counterparts The reality is that working conditions wage health and safety standards in Mexico have deteriorated One American employee for a steering-wheel plan made approximately 1046 per hour compared to his Mexican counterpart who makes about 075 per hour Within the agreement it stated the government of Canada the government of the United Mexican States and the government of the United States of America resolved to establish a free trade area In addition NAFTA also determined toStrengthen the special bonds of friendship and cooperation among the nationsContribute to the harmonious development and expansion of world trade and provide a catalyst to broader international cooperationCreate an expanded and secure market for the goods and services produced in their territoriesEstablish clear and mutually beneficial rules governing their tradeCreate new employment opportunities improve working conditions and living standards in their respective territoriesEnsure a predictable commercial framework for business planning and investmentA very important section of NAFTA is the elimination of tariffs which are charged for imports and exports within the three nations Along with
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