An analysis of the North American Free Trade Agreement.
This paper introduces and discusses the North American Free Trade Agreement (NAFTA). Specifically, it presents the pros and cons of NAFTA, and how it affects the apparel industry, especially in the California and/or Los Angeles market. It considers such factors as how it affects the job market, manufacturers, contractors, etc.
“The NAFTA agreement has been controversial since it first began in 1992. Many experts felt that the United States would lose a large amount of jobs to Mexico, because of lower wages and fewer trade union restrictions. It created Free Trade between Mexico, Canada, and the United States, and eliminated a large number of tariffs on a sliding scale over the next fifteen years. “On 12 August 1992, the United States, Canada, and Mexico agreed on a plan for free trade that would gradually eliminate tariffs over fifteen years and stimulate trade and investment. While protecting the 1988 free trade agreement between the United States and Canada, this new agreement created the largest common market in total production, with 370 million consumers. It makes U.S. and Canadian industries more competitive by using low-cost Mexican labor, advanced U.S. technology, and rich Canadian resources” (Gianaris 17).”
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