SOLUTION: Riverside City College NAFTA and USMCA Trade Agreements Discussion

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Is the new trade agreement negotiated by President Trump with Mexico and Canada t
replace NAFTA more beneficial or harmful to the United States economy than NAFTA?
Both NAFTA and USMCA trade agreements benefited each country despite some
criticism from various leaders. However, before diving into finding whether USMCA is
beneficial or harmful, we need to know what NAFTA is and how USMCA comes into place.
NAFTA is an acronym for the North American Free Trade Agreement between Canada, Mexico,
and the United States (Baker and Keiser). The trade agreement was created in 1994. However, it
traces its history back to the US – Canada Free Trade Agreement in 1989. The establishment of
NAFTA led to the elimination of trade tariffs, duties, and quantitative restrictions that hindered
trade transactions between the two countries (United States Trade Representative). The
establishment of the agreement was one of the most significant free trade agreements ever
enacted between two rich countries and a lower-income country (Mexico) that set the way for
creating new trade rules in the future.
When establishing the free trade agreement, promoters of the proposal argued that
establishing the free trade zone would increase trade and production for organizations. As a
result, more job opportunities will be created across the member countries. Secondly, member
countries would benefit from eliminating trade barriers between the countries. After Canada and
the US had established a trade agreement, Mexican President Carlos Salinas initiated a

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conversation between the United States and Canada to join the agreement pack during Reagan’s
rule (Baker and Keiser). President George Bush also extended the negotiations in 1991 that led to
NAFTA’s establishment.
The provisions that were contained in the NAFTA agreement were the elimination of
tariffs used in qualifying products. Before NAFTA came into practice, commodities exported to
Mexico attracted a tariff of 30% and above, with the US products being charged higher (CRS
Report). However, after establishing the free tra…

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