Canada-United States Free Trade Agreement


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Additional ancillary agreements have been adopted to allay concerns about the potential impact of the treaty on the labour market and the environment. Critics feared that U.S. and Canadian companies in Mexico would have generally low wages, which would lead to a shift of production to Mexico and a rapid reduction in manufacturing employment in the United States and Canada. Meanwhile, environmentalists were concerned about the potentially catastrophic effects of rapid industrialization in Mexico, which does not have experience in implementing and enforcing environmental legislation. Possible environmental problems were raised in the North American Environmental Cooperation Agreement (NAAEC), which established the Commission for Environmental Cooperation (CEC) in 1994. In 1994, the United States, Mexico and Canada, with the North American Free Trade Agreement (NAFTA), created the world`s largest free trade region, which generated economic growth and helped improve the living standards of the people of the three member countries. By strengthening trade and investment rules, this agreement has proven to be a solid foundation for building Canada`s prosperity and has provided a valuable example of the benefits of trade liberalization for the rest of the world. The new Canada-U.S.-Mexico agreement will strengthen Canada`s strong economic ties with the United States and Mexico. During the negotiations, Canada retained the right to protect its cultural industries and sectors such as education and health. Some resources, such as water, should also be removed from the agreement. Canadians have failed to win free competition for U.S. government procurement. Canadian negotiators also emphasized the inclusion of a dispute resolution mechanism.

[14] Over the next two decades, a number of academic economists have studied the effects of a free trade agreement between the two countries. Some of them , Ronald Wonnacott and Paul Wonnacott,[9] and Richard G. Harris and David Cox[10] – concluded that Canada`s real GDP would increase significantly if U.S. and Canadian tariffs and other trade barriers were eliminated and that Canadian industry could produce on a larger and more efficient scale. Other free trade economists were John Whalley of the University of Western Ontario and Richard Lipsey of the C. D. Howe Institute. [11] The agreement has failed to liberalize trade in some areas, particularly the ongoing dispute over coniferous timber. Issues such as trade in minerals, freshwater and conifer wood remain controversial.

The Canada-U.S. Free Trade Agreement (CUSFTA) (CUSFTA) was a Canada-U.S. trade agreement, a trade agreement between Canada and the United States of America, a trade agreement concluded by negotiators for Canada and the United States on October 4, 1987 and signed by the heads of state and government of both countries on January 2. , 1988. The agreement gradually removed a wide range of trade restrictions over a ten-year period and resulted in a significant increase in cross-border trade as an improvement over the last replaced trade agreement. [1] With Mexico`s accession in 1994, the free trade agreement was replaced by the French-language North American Free Trade Agreement (NAFTA): Tratado de Libre Comercio de América del Norte (TLCAN). [2] Analysis of the free trade agreement often shows that its effects on both countries depend on the difference in value between the Canadian dollar and the U.S. dollar. In 1990-91, the Canadian dollar rose sharply against the U.S. dollar, making Canadian industrial products much more expensive to purchase U.S.

products and making U.S. industrial products significantly cheaper for Canadians who no longer had to pay high tariffs on them.