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
Date Written: January 1, 1995
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: Suggested Citation