North American Free Trade Agreement

Since January 1, 1994, when the North American Free Trade Agreement (NAFTA) came into force, three-way trade between the United States, Canada, and Mexico has increased by more than 173%, reaching $804 billion in 2005.  Canada and Mexico are now two of America's most valuable trading partners, accounting for 36% of U.S. export growth in 2005.  At the same time, cumulative foreign direct investment in North America has increased by over $1.7 trillion.  Trade and investment have generated more and better-paying jobs and created significant new opportunities for businesses, workers, and consumers in all three countries.  NAFTA also aided Mexico as it successfully decoupled its economy from its traditional boom-and-bust cycle, ushering in real interest rates that are closer to those in the United States than those in other large Latin American countries.

As it was during the campaign for Congressional approval of the agreement in 1993, the U.S. Chamber remains the staunchest advocate of the benefits of the NAFTA, recognizing the importance of the agreement to the welfare of our most important trade relationships. 

NAFTA at 10: Gauging the Agreement's Impact on the U.S. Economy, Manufacturing and Jobs (PDF)

To find out more about the Chamber's NAFTA related activities or current performance of the agreement, contact Dawson Law.