The agreement exists between Canada, the United States and Mexico. Examine these NAFTA facts to summarize their impact on these three economies since their adoption. “NAFTA is the worst trade deal ever signed somewhere, but certainly certainly ever signed in this country,” Trump said in 2016 during a debate with then-candidate Hillary Clinton. The North American Free Trade Agreement (NAFTA) was inspired by the success of the European Economic Community (1957-1993) in removing tariffs to stimulate trade among its members. Supporters argued that the creation of a free trade area in North America would bring prosperity through increased trade and production, resulting in the creation of millions of well-paying jobs in all participating countries. However, with the exception of financial institutions, NAFTA has had some impact on supply chain sectors, including transportation. The NAFTA provisions allow for liberal land transportation regulation regarding the rationalization of the registration and treatment of truck drivers through an open border between the United States and Mexico. In addition, NAFTA`s history with the environment has played a significant role in obtaining environmental data in the three North American countries, but recent concerns are focused on this aspect of the treaty, which is being reduced for budgetary purposes. According to Chad Bown of the Peterson Institute for International Economics, the Trump administration`s list “is very consistent with the president`s position on trade barriers that like protectionism. This makes NAFTA less of a free trade agreement in many ways. [131] The considerations expressed by the U.S. representative regarding subsidized state-owned enterprises and currency manipulation are not likely to apply in Canada and Mexico, but are intended to send a message to countries outside North America. [131] Jeffrey Schott of the Peterson Institute for International Economics stated that it was not possible to conclude renegotiations quickly, while alleviating all concerns on the list. [133] He also said that it would be difficult to do something about trade deficits.

[133] NAICS has replaced the U.S. Standard Industrial Classification (CIS) system, which has allowed companies to be systematically divided into an ever-changing economy. The new system allows for simpler comparability between all North American countries. To ensure the relevance of NAICS, the system will be reviewed every five years.