Effect Of The North American Free Trade Agreement And...

The recent passage of the Trans Pacific Partnership has resulted in increased media attention on free trade agreements. While proponents of these agreements contend that free trade spurs economic growth and development, critics of these agreements charge that benefits accrue to a small concentration of stakeholders, including wealthy owners of capital, while regular workers are negatively impacted. In light of the continued debate between critics and proponents of free trade, an investigation into the effects of Canada’s free trade agreements with the United States is warranted. Has Canada’s free trade agreement with the United States benefitted Canadians? Which groups have benefitted and which groups have been denied benefits stemming from free trade? In this essay, an examination and analysis of the impacts of the North American Free Trade Agreement and other trade agreements between Canada and the United States is presented. First, background information is provided on the different trade agreements facilitating free trade between Canada and the U.S. Next, the major benefits and negative impacts of these trade agreements are examined and detailed. A discussion on the overall impacts is then presented, and the paper concludes with a short commentary on the injustices associated with current free trade agreements. It is argued that while free trade agreements have facilitated economic development and growth, the benefits of these agreements have largely accrued to theShow MoreRelatedThe North American Free Trade Agreement (NAFTA)1345 Words   |  6 Pages The North American Free Trade Agreement (NAFTA), came into effect on January 1, 1994, creating the largest free trade region in the world, generating economic growth and helping to raise the standard of living for the people of all three countries participating. 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