The North American Free Trade Agreement (NAFTA) is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. It eased restrictions on commerce between the United States, Canada and Mexico by providing duty-free trade on multiple classes of goods and introducing new regulations to encourage cross-border corporate investment.

In a survey of leading economists, 95% supported the notion that on average, US citizens benefited on NAFTA. In 2015, the Congressional Research Service concluded that the "net overall effect of NAFTA on the U.S. economy appears to have been relatively modest, primarily because trade with Canada and Mexico accounts for a small percentage of U.S. GDP.

However, the migration of workers from Mexico City and further south in numbers not easily accommodated in small border towns produced overpopulated slums with high living costs for the Mexican workers. Nonetheless, some argue that the competition between Asia and the U.S. could have become worse without the temporary low-cost labor available to U.S. companies in Mexico. NAFTA may have eliminated tariffs between the U.S., Canada and Mexico, but it didn't do away with the numerous customs regulation that can stifle trade. Rule of origin regulations decide whether a good qualifies for trade under NAFTA guidelines, and exporters must complete certificate of origin paperwork.

Republican presidential front-runner Donald Trump says he wants to be able to slap tariffs on U.S. companies that choose to make their products overseas, and he's willing to violate existing trade deals to do it. "We will either renegotiate it or we will break it," Trump said of the landmark free trade agreement between the U.S., Canada and Mexico, panning it as "a disaster." - Trump said.

Latest news on NAFTA & the Economy

Ex-CMA official to represent UK forex claimants
A former economist at the UK's competition enforcer has filed the second collective proceeding at the UK's Competition Appeal Tribunal to claim ...
>> Read more here

Top Four Popular Indicators in Forex Market
You may be wondering why the professional traders are using the RSI (Relative Strength Index) to analyze the price chart in the Forex market when ...
>> Read more here

Politics,Trade Deal Drive Choppy Forex
It has been a wild, news-driven 24 hours on the forex. A final tally in the U.K. election, as well as excitement over 'Phase 1' of a U.S./China trade deal, ...
>> Read more here

Gold futures edge higher on weaker US dollar
CHICAGO, Dec. 13 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange edged higher on Friday, as the precious ...
>> Read more here

Dollar down after US-China trade deal; pound jumps on win by UK PM Johnson
NEW YORK (Reuters) - The dollar edged lower against a basket of currencies on Friday as news of an initial China-U.S. trade deal and an election ...
>> Read more here

CANADA FX DEBT-Canadian dollar clings to weekly gain as greenback's appeal fades
(Adds dealer quotes and details throughout, updates prices) * Canadian dollar falls 0.1% against the greenback * Price of U.S. oil increases by 1.5% ...
>> Read more here

Obama and the economy
Obama economy
Putin and the economy
Putin economic
Greenspan Economics
Alan Greenspan economics
The FED and the economy
Federal Reserve economy
International Monetary Fund
IMF economics
World Bank & the economy
World Bank economy
Deutsche Bank
Deutsche Bank economy
European Union economy
European Union economy
China economy
China economy
NAFTA and the economy
NAFTA and the economy
GOLD in the economy
GOLD in the economy
SILVER in the economy
SILVER in the economy