Spanish Seminar

Spanish Seminar - NAFTA Took effect on January 1, 1994 o...

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NAFTA Took effect on January 1, 1994 o President Clinton signed NAFTA into law in December of 1993 Promoters promised it would: Create thousands of jobs (US) Raise living standards Reduce immigration by increasing employment in Mexico Opposers feared it would: Lower wages Destroy thousands of jobs Threaten health environmental and food safety standards o What does NAFTA DO? The purpose of NAFTA is was to encourage trade by eliminating tariffs between countries o NAFTA examples In the US, corn farmers receive subsidies from the govt. which allows them to sell their grain at prices far below what it costs to produce Mexican corn farmers do not receive subsidies from their govt. They cannot compete with US prices for corn A subsidy is a form of financial assistance paid to a business. A subsidy can be used to support businesses that might otherwise fail o NAFTA-the effects Small farmers (mostly in Southern Mexico) cannot compete. They
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This note was uploaded on 09/30/2010 for the course SPAN 200 taught by Professor Villanueva during the Fall '10 term at Wofford.

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Spanish Seminar - NAFTA Took effect on January 1, 1994 o...

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