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nafta: what it is, and why trump hates it personal finance - carrier air conditioner parts

by:HICOOL     2021-10-11
nafta: what it is, and why trump hates it personal finance  -  carrier air conditioner parts
What Trump wants most is to renegotiate or "terminate" the North American Free Trade Agreement ---
North American Free Trade Agreement.
He also wants to impose a 35% tax on goods such as Ford (F)
Cars produced in Mexico and sold in the United States. S.
Trump called the North American free trade agreement "the worst trade agreement in history" and accused it of losing manufacturing jobs in America's Rust Belt ---
The state that helped him win last week.
Here is the information you need to know about the North American Free Trade Agreement. What is NAFTA?
This is a trade agreement between Canada, Mexico and the United States, which entered into force on 1994 under President Clinton.
The framework of the agreement was originally drafted under the leadership of President Reagan in 1987.
The North American Free Trade Agreement essentially removes almost all tariffs between the three countries, allowing seamless cross-border movement of goods and supplies.
About $1 today.
4 billion of the goods passed through the United StatesS. -
Mexican border every day.
NAFTA also makes it easy for companies to move from the USS. to Mexico.
Related Report: Trump's transition team: trade reform starts on the first day. can Trump tear up the North American Free Trade Agreement without Congress? Yes.
The president has the right to withdraw from the North American Free Trade Agreement according to the rules of the agreement.
He only needs to inform Canada and Mexico six months in advance.
Did the United States lose Mexico's job because of the North American Free Trade Agreement?
Yes, I'm out of work.
But it's not that simple because there are millions in America. S. -
Based on the work of the North American Free Trade Agreement.
The Institute for Economic Policy estimates that Mexico lost about 800,000 jobs between 1997 and 2013.
However, a non-partisan report released by Congress in 2015 found that "the North American Free Trade Agreement has not caused huge unemployment that critics are worried about.
"Analysis shows that the United States has fewer jobs in machinery and automation than in Mexico.
Anyway, there have been anecdotes over the years that many companies have moved jobs to the south of the border.
Aircon carrier announced earlier this year that it will move about 1,400 jobs from Indiana to Mexico.
However, the U. S.
Chamber of Commerce says about 6 million U. S.
Employment depends on trade with Mexico.
Related: Trump can use three ways of tariffs without Congress winning the North American Free Trade Agreement? U. S.
Companies, especially car makers, are clear winners because they benefit from the cheap labor force in Mexico. Ford and GM (GM)
There are major businesses in Mexico, but there are far more employees employed in the United States.
Trump slammed Ford for announcing the transfer of parts of production from Michigan to Mexico.
Ford stressed that the move would not result in any unemployment at its Michigan plant, where it would produce different car models.
Because it's cheaper to produce in Mexico, Americans benefit by paying lower prices for food, clothes, cars and electronics from Mexico.
Trade between the three countries has grown a lot, especially between the United States and Mexico. U. S.
Compared with the year before the 1993 NAFTA became law, exports to Mexico grew by nearly 470% last year.
If there is no North American Free Trade Agreement, we will go out of business. Will tearing up the North American Free Trade Agreement bring jobs back? It's unlikely.
When the cost of a country rises-
If the North American Free Trade Agreement is killed, so will Mexico. -
The company just moved its business to the next cheapest country.
It may be another country in Latin America or Asia.
Killing the North American Free Trade Agreement is more likely to cost the United StatesS.
Millions of people depend on free trade with Mexico.
For example, cowboy manufacturers in the United States rely on the North American Free Trade Agreement, although their industry has lost a lot of work due to free trade.
They shipped almost all the Cowboys to Mexico and sold them back in the United States. S.
All of these trips are tax-free because of the North American Free Trade Agreement.
Denim makers say tearing up the North American Free Trade Agreement will make the cost of jeans in Mexico expensive.
So while manufacturers despise the North American Free Trade Agreement, they say it will harm their businesses and jobs.
Canada is a bigger thorn in the North American Free Trade Agreement. S.
Between Mexico and the United States. S.
In recent years, trade tensions with countries north of the border have been worse than in the South.
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