Understanding Nafta And Its International Business Implications

On July 1, 2020, after much expectation and delay, the new United States-Mexico-Canada Agreement (USMCA)—a greatly revised version of the North American Free Trade Agreement (NAFTA) of 1994—came into effect. This timely book by the author of the preeminent guide to NAFTA and an active participant and private sector advocate in the USMCA negotiation and legislative process provides a chapter-by-chapter analysis of the new agreement, clearly describing what has changed from the earlier agreement and what is new. After a concise but expertly calibrated summary of NAFTA, the author proceeds systematically through a practical analysis of each USMCA provision, emphasizing such crucial new elements as the following: new rules on intellectual property rights; stricter rules of origin within the automotive industry; major reforms in Mexican labor laws and their enforceability; opening of Canada’s agricultural and dairy sector to more U.S. competition; entirely new chapter on digital trade; new dispute mechanisms; requirement of an increased minimum wage in auto plants; and a new chapter on environmental standards. Changes in such important aspects of trade as textiles and apparel, ownership of hydrocarbons, cross-border trade in services, and anticorruption measures are also fully described. The USMCA is a response to a United States initiative to renegotiate NAFTA. As a key regional trade agreement with vast global ramifications, familiarity with its content and rules is essential for all business, legal, policymaking, and academic parties concerned with international trade. This useful practical guide will be a welcome addition to private and corporate libraries, including corporate counsel, customs brokers, freight forwarders, logistics and import-export managers, government officials, and academics who need a thorough understanding of the new agreement.

In today's global economy, NAFTA continues to present unprecedented opportunities for companies in cross-border commerce. 'Uniting North American Business: NAFTA Best Practices' focuses on best business practices and lessons learned in the years since the NAFTA agreement was first signed, and their impact on both the economy and society. 'Uniting North American Business' provides you with the skills and competencies necessary to become more effective business managers and citizens in NAFTA countries by considering: * What is the scope of the NAFTA agreement itself? * What are some of the positive benefits of NAFTA? * What is really causing job loss attributed to NAFTA? * What should we know about Canada, the United States, and Mexico to better understand the culture and management philosophies of our partners? * What will society look like if current trends continue?

Understanding the North American Free Trade Agreement is an easy-to-understand summary and analysis of the major provisions and side agreements of this landmark accord. It's written in terms designed to address the needs of non-experts, but also contains the detailed information that the experienced international trade executive or attorney will find indispensable.

Every international corporate executive, customs broker, banker, and attorney needs to know what the new North American Free Trade Agreement (NAFTA) will mean to their business and their client's business. This book is an easy to understand summary and analysis of the major provisions of this landmark accord and the side agreements negotiated to assure its passage. It is written in terms simple enough for the layman, but also contains the detailed information that will assist the experienced international trade executive or attorney. This book is designed to be a practical daily reference tool on your desk or in your briefcase, not just in the library shelf.

Seminar paper from the year 2006 in the subject Economics - International Economic Relations, grade: 1,0, Drury University (Breech School of Business Administration), course: International Economics, language: English, abstract: Many countries are reducing trade barriers and promoting regional economic integration. A result of this is the rising of free-trade areas in which the belonging countries trade freely among themselves without tariffs or trade restrictions. One example for a free-trade area is the North American Free Trade Agreement (NAFTA) founded by the U.S., Mexico and Canada. When NAFTA took effect on January 1, 1994, it created the world ́s largest free-trade zone with a combined population of over 416 million and a total GDP of $12 trillion. Of course, the U.S., as the world ́s largest single market, dominates the North American business environment. The goal of NAFTA is to eliminate all the trade barriers between the three countries over a 15-year period, completed in 2009. NAFTA also substantially reduces, but does not completely eliminate, nontariff trade barriers like import quotas, sanitary regulations, and licensing agreements. From the beginning, NAFTA had a lot of opponents in the U.S. as well as in Mexico. For example, U.S. labor unions feared a loss in jobs because of dislocating production from the USA to Mexico by reason of lower wages. In Mexico, farmers opposed and still opposing NAFTA because of the high U.S. subsidies on agricultural products that are imported to Mexico. There were also beliefs from environmental, social justice, and other advocacy organizations stating that NAFTA has unfavorable impacts on non-economic areas like public health or environment. On the other hand, Mexican proponents supporting NAFTA argued that open trade could reduce migration from Mexico into the U.S. in the long run since NAFTA brings an improvement of the Mexican economy relative to the U.S. economy (Acevedo & Espenshade, 1992, p. 742). Between 1994 and 2003 Mexico ́s average annual GDP growth was 2.7 percent (Hufbauer & Schott, p. 2). At the first sight, NAFTA seems to be a benefit for the Mexican economy at the whole. Nevertheless, there are gainers and losers as a result of free trade. The content of this paper is to have a closer look on the Mexican economy and to answer the following three questions: 1. Can the trade pattern between Mexico and the U.S. be determined by using economic models? 2. Can the winners and losers that are resulting from the trade pattern between the U.S. and Mexico be explained with these models? 3. According to the economic models of international trade, does Mexico benefit like predicted?

This book discusses the contemporary trade dynamics necessary for companies to grow competitively in the global marketplace, extending the conceptual and analytical foundations of international trade and economy in North America. This book examines the growth of international trade in North America during the pre-and post-North American Free Trade Agreement (NAFTA), and analyzes the complexities that occurred when the economic recession struck the global markets. It outlines applied tools and techniques for business projects to thrive in the competitive marketplace, and serves as a learning post and a think tank for students, researchers, and business managers operating in a global landscape.

"Very readable book written during height of NAFTA debate. Remains a valuable resource for discussing impact of the trade agreement in Mexico and US"--Handbook of Latin American Studies, v. 57.