The Clinton administration negotiated with Canada and Mexico a parallel agreement on the environment, the North American Agreement on Environmental Cooperation (NAAEC), which led to the creation of the Commission for Environmental Cooperation (CEC) in 1994. Agriculture was the only step that was not negotiated trilaterally; Instead, three separate agreements were signed between each pair of parties. The Canada-U.S. agreement included significant restrictions and tariff quotas for agricultural products (mainly sugar, dairy, and poultry products), while the Mexico-U.S. pact allowed for broader liberalization during phase-out phases (it was the first North-South free trade agreement for agriculture to be signed). [Clarification required] Many small U.S. businesses relied on exporting their products to Canada or Mexico under NAFTA. According to the U.S. Trade Representative, this trade has supported more than 140,000 small and medium-sized businesses in the United States. [94] The North American Free Trade Agreement (NAFTA) is an agreement between Canada, Mexico and the United States to remove barriers to trade and promote trade competition between the three countries. Among the provisions of the agreement is the abolition of customs duties, taxes on foreign goods, on many goods. The agreement also provided for tariff reductions, a different type of tax on imports and exports, the enforcement of intellectual property and agreements to treat investors from these three countries favourably. This favourable treatment means that the three countries must treat each other`s investors in the same way as investors from their own countries.

NAFTA entered on 1. In January 1994, it replaced an earlier trade agreement between the United States and Canada, the Canada-United States Free Trade Agreement. In addition to this agreement, two sub-agreements have been adopted to address other concerns: the North American Agreement on Environmental Cooperation and the North American Agreement on Workers` Cooperation. [1] Before sending it to the U.S. Senate, Clinton added two parallel treaties, the North American Agreement on Labor Cooperation (NAALC) and the North American Agreement on Environmental Cooperation (NAAEC), in order to protect workers and the environment, as well as to allay the concerns of many members of the House of Representatives. The United States has required its partners to adhere to environmental practices and regulations similar to their own. [Citation needed] After lengthy deliberations and lively discussions, the U.S. House of Representatives passed the North American Free Trade Agreement Implementation Act on November 17, 1993, with measures 234-200. Among the supporters of the deal were 132 Republicans and 102 Democrats. The bill was passed by the Senate on 20 November 1993 by a vote of 61 to 38. [21] The Senate supporters were 34 Republicans and 27 Democrats. Republican Rep.

David Dreier of California, a staunch supporter of NAFTA since the Reagan administration, has played a leading role in mobilizing support for the deal among Republicans in Congress and across the country. [22] [23] • Promote American farmers, ranchers and agribusiness by modernizing and strengthening food and agricultural trade in North America. The North American Free Trade Agreement (NAFTA) is a pact to remove most barriers to trade between the United States, Canada and Mexico, which entered into force on January 1, 1993. Some of its provisions were implemented immediately, while others were phased in over the next 15 years. Clinton signed it on December 8, 1993; the Agreement entered into force on 1 January 1994. [24] [25] At the signing ceremony, Clinton honored four people for their efforts to reach this historic trade deal: Vice President Al Gore, Council of Economic Advisers Laura Tyson, National Economic Council Director Robert Rubin, and Republican Congressman David Dreier. [26] Clinton also stated that “NAFTA means jobs. American jobs and well-paying American jobs.

If I did not believe in it, I would not support this agreement. [27] NAFTA replaced the previous Free Trade Agreement between Canada and the United States. NAFTA has been structured to increase cross-border trade in North America and stimulate economic growth in each party. U.S. foreign direct investment (FDI) in NAFTA countries (equities) amounted to $327.5 billion in 2009 (latest data available)[when?], up 8.8% from 2008. [89] U.S. direct investment in NAFTA countries has affected non-bank holding companies, as well as manufacturing, financial/insurance, and mining. [89] Canadian and Mexican foreign direct investment in the United States (equities) amounted to USD 237.2 billion in 2009 (the latest data available), an increase of 16.5% over 2008. [89] [92] Finally, three separate events had a major impact on the North American economy – none of which can be attributed to NAFTA. The collapse of the tech bubble has hurt growth. .