NAFTA’s Virtuous Circle
The North American Free Trade Agreement (NAFTA) and its effect on the United States has been a much-talked-about topic recently, and there exists a desire to either renegotiate or terminate NAFTA and implement additional taxes on goods that are made in Mexico and sold in the U.S. However, this would be an economic mistake for North America.
While there are some improvements that can be made to NAFTA, it’s on the right track to promoting free trade and driving economic growth for all of North America. Terminating NAFTA would not only eliminate the ultimate objective of free trade between the countries and increase the cost of goods, but would further damage Mexico’s already fragile economy and ultimately damage our entire North American “neighborhood.”