Nafta And Canadian Shipping

NAFTA and Canadian Shipping

Introduction The North American spare sell Agreement (NAFTA) is an agreement that came into effect on January 1st, 1994. It created trilateral transaction legislation amongst Canada, Mexico and the United States (US), superseding the previously signed Canada-United States Free Trade Agreement of 1987. The purpose of NAFTA was to avoid business and coronation barriers between US, Canada and Mexico, which resulted in the elimination of many tariffs from and to Mexico by the US. However, approximately US-Canada mountain was already duty free ( exotic Affairs and internationalist Trade, 2011). In addition to NAFTA, there are other factors and regulations that were upheld in spite of NAFTAs ratification. These were the Jones Act in the US and the Coasting Trade Act in Canada. In this report, NAFTA, the Jones Act and the Coasting Trade Act will be examined as to their combined effect on Canadian marine transportation and economy. NAFTA NAFTA was signed by Prime Minister Brian Mulroney, Mexican President Carlos Salinas and US President George W. Bush, with an effective date of January 1st, 1994. Since then, NAFTAs goal has been to generate economic growth and rising standards of living for the tidy sum of all three countries.



This, idealistically, was done by consolidating rules and procedures that govern trade and investment throughout North America. According to Canadas Department of Foreign Affairs and International Trade in 2011, Canadas merchandise trade with its NAFTA partners reached nearly $626.3 billion in 2008. Canadas merchandise exports to the United States grew at a compounded annual rate of almost 6.3% between 1993 and 2008. Approximately 8% of Canadas total merchandise exports were destined to the NAFTA partners in 2008. Additionally, trade between Canada and Mexico more than quadrupled over the same stage (Foreign Affairs and International Trade, 2011).

NAFTA and Canadian Shipping

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Proponents of NAFTA had set out to eliminate tariffs,...If you want to get a full essay, order it on our website: Orderessay



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