The North American Free Trade Agreement (NAFTA), is a trade agreement signed between the U.S., Canada and Mexico, which made it easier for companies in those three countries to move goods and supplies across North America’s borders. The agreement was signed and effected on Jan. 1, 1994, and essentially eliminated barriers most goods traded among the three nations. Its purpose is to reduce trading costs, Promote conditions of fair competition, Increase investment opportunities, Provide protection and enforcement of intellectual property rights, Create procedures for the resolution of trade disputes , Establishment of adequate structure for further trilateral, regional, and multilateral cooperation to expand the trade agreement’s benefits, and help North America be more competitive in the global market. NAFTA was targeted from all sides during the 2008 presidential campaign. Barack Obama blamed it for growing unemployment. He said it helped businesses at the expense of workers in the United States. It also did not provide adequate protection against the exploitation of workers and the environment. During the campaign of elections, Hillary Clinton called the agreement defective. Both candidates promised to either amend or back out of the agreement but all the statements made by them were wasted.
President Donald Trump showed his hatred to the current NAFTA agreement, which he blames for the loss of American jobs. Trump often called NAFTA as the “worst trade deal ever”. Other critics admits that NAFTA needs to be updated for the reflection of changes in the world economy. In the statement of the White House press secretary called the measure “another trade win for American workers”. Measure 89 to 10 vote in the Senate on implementing legislation for the revised United States-Mexico-Canada Agreement will send the measure to the president Mr. Donald Trump, who is expected to sign it next week. According to report “A major challenge in assessing NAFTA is separating the effects that came as a result of the agreement from other factors. U.S. trade with Mexico and Canada was already growing prior to NAFTA and it likely would have continued to do so without an agreement”. An essential part of the new agreement consist the updations that original text, adding revised guidelines for food safety, e-commerce and online data flows, as well as anti-corruption provisions. But there are some changes in the deal negotiated by the president ‘s trade staff, including higher thresholds for how much of a car must be made in North America in order to avoid tariffs.
QUESTION IN LAW
As the new agreement holds some new updates as well as some amendments which are highly valuable and favorable but there are no provisions to combat environmental protection. And according to the statement of the senate members who gave their votes against the agreement states that this the only reason for giving their votes against the agreement. It is the right of every human to live in healthy environment but if the agreement will be signed it would affect the human rights. Those voting against the agreement are listed as Senators Kamala Harris of California, Bernie Sanders of Vermont, another presidential contender, and Chuck Schumer of New York, the minority leader, Senators Cory Booker of New Jersey, Kirsten Gillibrand of New York, Brian Schatz of Hawaii, Edward J. Markey of Massachusetts, Sheldon Whitehouse of Rhode Island and Jack Reed of Rhode Island. President Donald Trump wrote in his mail in the favor of supporters of the pact that “Socialist Bernie Sanders just proudly voted against new jobs and higher wages for Americans workers”.
As the new pact creates agreements on international rights for business investors, which will reduce the cost of commerce. It increases investment and growth, especially for small businesses. But the statement given in the against of the pact is also noticeable that there should be some provisions to combat environmental protection which will protect the human rights too which are all pervasive so this agreement would definitely lead to complete success.