Word: tradings
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...North American Free Trade Agreement (NAFTA) has never been without its critics or its champions. Since its inception in 1994, the deal still provides some of America's most reliable debate fodder, from campaign trails to the break rooms of Midwestern factories. NAFTA's fifteenth anniversary this week comes at a tumultuous time: with U.S. unemployment at a 26-year high and many American companies facing grave operational challenges, the controversy over the free-trade pact is not likely to subside anytime soon...
...concept behind NAFTA - promoting economic growth by easing the movement of goods and services between the U.S., Mexico and Canada - had existed for years before it was born. President Ronald Reagan spoke of a North American agreement in his campaign in 1979, and the Canada-U.S. Free Trade Agreement had existed since 1989. NAFTA, which was launched January 1, 1994 and finally saw the last of its policies implemented on January 1, 2008, stipulates the removal of most tariffs and restrictions on trade between the three nations and codifies a wide range of agreements on agricultural, textile and auto...
Many of the pact's effects have been celebrated. Intra-North American trade has more than tripled since NAFTA's inception, and the value of U.S. agricultural exports worldwide has climbed by 65 percent. Agricultural trade in both directions between Mexico and the U.S. increased from $7.3 billion in 1994 to $20.1 billion in 2006. Trade between the three parties currently accounts for about 80 percent of Canadian and Mexican trade and more than a third of U.S. trade...
...revisited, Mexico and Canada would likely have their own wish lists to bring to the table. Mexico would undoubtedly want to discuss the U.S.'s new, restrictive migration policies and high corn subsidies for U.S. farmers, which hurt Mexican farmers. Canada may want to pursue new energy trade policies. Mexico's current conservative government has opposed reopening the terms of NAFTA, but recent political fractures in Canadanot to mention an increasingly complex global economic situation will likely keep the debate lively well past NAFTA's next anniversary...
They can start by acknowledging that after 50 years of communist revolution in Cuba and counter-revolution from the U.S., both sides can claim only partial victories. Washington and Miami's Cuban exiles can say they kept the U.S. trade embargo against Havana intact. Yet they failed to dislodge Fidel Castro and his government and instead succeeded in alienating the rest of the hemisphere. Congratulations! The Castro regime can say it stood up to a half-century of yanqui aggression while proving that quality universal education and health care are doable. But the price - a basket-case economy...