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Developed in 1995, the North American Free Trade Agreement (NAFTA) was intended to promote trade between the countries of the United States, Canada, and Mexico. This was largely accomplished by eliminating tariffs, which allowed goods to flow freely across international borders. And this sounds like a great thing. Businesses would have access to new customers while also being able to diversify their supply chains throughout North America. Despite these benefits, NAFTA hasn't exactly been all the rage, especially in the U.S. where it has drawn criticism from many including President Trump. So after much negotiating, not to mention a great deal of posturing, NAFTA was retooled into what is the United States, Mexico, Canda Agreement or USMCA for short. But is the USMCA a drastic deviation from NAFTA? We'll explore that topic in this lecture.
5 сен 2024
