The debate on the impact of NAFTA on its signatory countries continues. While the United States, Canada and Mexico have experienced economic growth, higher wages and stronger trade since nafta, experts disagree on the extent to which the agreement has actually contributed to these benefits, if at all, to manufacturing employment. , immigration and consumer goods prices. The results are difficult to isolate and other important developments have occurred on the continent and around the world over the past quarter century. The legislation was developed under President George H. W. Bush as the first phase of his Enterprise for the Americas initiative. The Clinton administration, which signed NAFTA in 1993, believed it would create 200,000 U.S. jobs in two years and one million in five years, as exports would play an important role in U.S. economic growth.
The government expected a dramatic increase in U.S. imports from Mexico due to lower tariffs. The three parties responsible for the training and management of NAICS are the Instituto Nacional de Estadistica y Geografia in Mexico, Statistics Canada and the U.S. Bureau of Management and Budget, through its Economic Classification Policy Committee, which also includes the Bureau of Economic Analysis, the Bureau of Labor Statistics and the Bureau of Census. The first version of the classification system was published in 1997. A review in 2002 reflected major changes in the information sector. The last revision, in 2017, resulted in 21 new sectors through the reclassification, splitting or merging of 29 existing industries. NAFTA has not eliminated regulatory requirements for companies wishing to act internationally, such as rules of origin and documentation obligations, that determine whether certain products can be traded under NAFTA. The free trade agreement also provides for administrative, civil and criminal sanctions for companies that violate the laws or customs procedures of the three countries. On September 30, 2018, the United States and Canada agreed on an agreement to replace NAFTA, which will now be called the USMCA – the agreement between the United States and Mexico. In a joint press release from the U.S. and Canadian trade offices, officials said NAFTA was supplemented by two other regulations: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Cooperation with Workers (NAALC).
These tangential agreements should prevent companies from moving to other countries in order to use lower wages, more moderate health and safety rules and more flexible environmental rules. About a quarter of all U.S. imports, such as crude oil, machinery, gold, vehicles, fresh produce, livestock and processed food products, come from Canada and Mexico, the second and third largest suppliers of imported products to the United States. In addition, about one-third of U.S. exports, including machinery, spare parts, mineral oils and plastics, go to Canada and Mexico. The North American Free Trade Agreement (NAFTA) was implemented to promote trade between the United States, Canada and Mexico. The agreement, which removed most tariffs on trade between the three countries, came into force on 1 January 1994. Between 1 January 1994 and 1 January 2008, many tariffs – notably for agriculture, textiles and automobiles – were phased out. On January 29, 2020, President Donald Trump signed the agreement between the United States, Mexico-Canada. Canada has not yet adopted it in its parliamentary body until January 2020.