New historical chapter for North American trade United States, México, Canada Agreement - USMCA

Morena Altieri
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Morena Altieri: University of Naples ”L´Orientale”, Naples, Italy

Sociology and Social Work Review, 2021, vol. 5, issue 2, 29-39

Abstract: The North American Free Trade Agreement (NAFTA) is a regional agreement signed between the governments of Canada, the United States and Mexico to make the creation of a free trade area effective. It entered into force on 1 January 1994. The conclusion of this agreement has always given rise to conflicting and opposing ideas. Today, this agreement has been in place for 26 years, and even now we have not reached a conclusion that brings the whole of public opinion into agreement. This article will try to see how the agreement has changed trade relations between countries, between the United States and Mexico in particular, analyzing changes in import and export flows and their impact on the trade balance, the role of Foreign Direct Investment and how the Peso crisis changed the impact of the agreement in the early years, thus giving an example of how events outside the agreement directly influence the results of the agreement. The new USMCA agreement, called NAFTA 2.0, will be analyzed and the areas that the three countries wanted to strengthen with the aim of forming a process of globalization and obtaining a single trade area will be addressed.

Keywords: United States; Canada; Mexico; North American Free Trade Agreement; United States-Mexico-Canada Agreement; International trade. (search for similar items in EconPapers)
JEL-codes: F50 F60 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:edr:sswrgl:v:5:y:2021:i:2:p:29-39

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