The Impact of NAFTA in the U.S. and Mexico
             The North American Free Trade Agreement, often referred to as NAFTA, is an agreement between the U.S., Canada and Mexico. The purpose of NAFTA is to reduce and eventually erase trade barriers, which would make it easier for the three countries to import and export goods and services more freely between each other. NAFTA had started as an agreement between the United States and Canada, then in 1992, Mexico joined the venture. The union of these countries made sense, mainly because of their proximity to each other and the benefits that each would soon come to realize.
             Some of the key contents in the NAFTA agreement was that in a ten year period, most all of the tariffs on the goods would be removed, it provided for the protection of intellectual property, easier access to invest in foreign industries, that is with a few exceptions which would exclude key markets for that country. For example, Mexico was not willing to open the door to its energy and railway industries. NAFTA also meant freer flow of services, which would allow unrestricted access to some of the country's markets. Even more importantly, NAFTA made sure that environmental and ethical standards were in place. Two parties were commissioned to ensure that there was no abuse of the environment, wages or child labor to name a few
             How did such an agreement come about? NAFTA was formed as an offspring of the World Trade Organization (WTO), an organization that aimed at promoting freer trade between countries. The WTO was preceded by the General Agreement on Tariffs and Trade (GATT). GATT was started more than fifty years ago, so these types are agreements have been around for some time. The WTO has not been as successful in reducing trade barriers as quickly as have the regional trade agreement. It has been slow in progress because of the number of countries involved in such an organization and the considerations ...