Question

What was NAFTA? What was this agreements intention and purpose? Why was there so much disagreement on if NAFTA should be passed? What were arguments for and against?

Answer 1

Answer:

The purpose of the North American Free Trade Agreement (NAFTA) was to reduce trading costs, increase business investment, and help North America be more competitive in the global marketplace

Explanation:

Article 102 of the NAFTA agreement outlines its purpose. There are seven specific goals:

Grant the signatories (the countries that signed it) a "most-favored-nation" status.

Eliminate barriers to trade and facilitate the cross-border movement of goods and services.

Promote conditions of fair competition.

Increase investment opportunities.

Provide protection and enforcement of intellectual property rights.

Create procedures for the resolution of trade disputes.

Establish a framework for further trilateral, regional, and multilateral cooperation to expand the trade agreement's benefits.