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The North American Free Trade Agreement: The Foundation for a New Trade Alliance

Hamline Law Review, Vol. 18, p. 329, 1995

7 Pages Posted: 10 Apr 2013  

Larry A. Bakken

Hamline University - School of Law

Date Written: January 1, 1995

Abstract

Our economy is shaped by trade and investment, first in local markets then in neighboring markets and now our economy is seen as international in scope. Individual governments have developed several approaches to address the realities of international markets. One model has been the General Agreement on Tariff and Trade (GATT), which uses a multinational approach to influence and regulate domestic trade policies and practices. A second approach is the binational approach undertaken by countries to solve particular problems and conflicts with one another. Finally, regional economies have recently developed trade agreements among themselves. In the past the United States has been reluctant to utilize international treaties to resolve international conflict. Recently however, the U.S. has entered into agreements with Israel in 1984-85, and Canada in 1987-88. These agreements were the forerunners to the North American Free Trade Agreement (NAFTA) signed December 17, 1992. This commentary on John S. Evans Proceedings discusses the Objectives of NAFTA, the concepts and principles of NAFTA and the Canada-United States Free Trade Agreement, as well as, questions and concerns that arise from their legitimacy.

Keywords: North American Free Trade Agreement, NAFTA, Canada-United States Free Trade Agreement, Dispute Resolution, International Trade, Agriculture

JEL Classification: F1, F3, F2, K00

Suggested Citation

Bakken, Larry A., The North American Free Trade Agreement: The Foundation for a New Trade Alliance (January 1, 1995). Hamline Law Review, Vol. 18, p. 329, 1995. Available at SSRN: https://ssrn.com/abstract=1967709

Larry Bakken (Contact Author)

Hamline University - School of Law ( email )

1536 Hewitt Avenue
Saint Paul, MN 55104-1237
United States

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