BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The United States commenced bilateral trade negotiations with Canada more than 30 years ago, resulting in the U.S.-Canada Free Trade Agreement, which entered into force on January 1, 1989. In 1991, bilateral talks began with Mexico, which Canada joined.

Detailed explanation-2: -In short, NAFTA created a large free-trade zone reducing or eliminating tariffs on imports and exports between the three participating countries (the U.S, Mexico, and Canada). Overall, there was an increase in trade between the three countries, and real per-capita GDP also increased slightly.

Detailed explanation-3: -The U.S. – Mexico – Canada Agreement (USMCA) is a trade agreement between the named parties that entered into force on July 1, 2020. To help coordinate the implementation of the USMCA, and provide comprehensive guidance to stakeholders, CBP stood up the USMCA Center in March 2020.

Detailed explanation-4: -North American Free Trade Agreement (NAFTA) established a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAFTA immediately lifted tariffs on the majority of goods produced by the signatory nations.

Detailed explanation-5: -Amid a NAFTA-spurred influx of cheap U.S. corn, the price paid to Mexican farmers for the corn that they grew fell by 66 percent, forcing many to abandon farming. From 1991 to 2007, about 2 million Mexicans engaged in farming and related work lost their livelihoods.