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Pros and Cons
EU and the US
What is FTA?
(F)ree (T)rade (A)greements
common external tariffs
the tariffs/taxes & duties,
quotas & customs
US - FTAs Timeline
North American FTA
: US, Canada, Mexico
EU & US
US FTA Negotiation
Advantages of NAFTA
International rights for business investors
Ability to bid on government contracts
Intellectual properties protection
Increase in Trade
Growth in US Farm Exports
Trade Surplus in Services
Cheaper oil and grocery Prices
Higher foreign direct investment
I believe we have made a decision now that will permit us to create an economic order in the world that will promote
more growth, more equality,
better preservation of the environment, and a greater possibility of world peace.
We are on the verge of a global economic expansion that is sparked by the fact that the United States lit this critical moment decided that we would compete, not retreat.
In a few moments, I will sign the North American free trade act into law.
NAFTA will tear clown trade barriers between our three nations.
It will create the world's largest trade zone and
create 200,000 jobs in this country by 1995 alone
. The environmental and labor side agreements negotiated by our administration will make this agreement a force for social progress as well as economic growth.
Remarks on the Signing of NAFTA (December 8, 1993)
Disadvantages of NAFTA
Nearly 80% of the losses were in manufacturing.
Mexico lost 1.3 million farm jobs
U.S. Wages Suppression
Factory or Union?
more fertilizers in Mexico agribusiness
Canada becoming too dependent on the US
3:00 - 4:36
So... what about the EU?
Free Trade Agreement
and Cooperation Agreement
EU-South Africa Trade,
EU-ASEAN - FTA
EU-Canada Comprehensive Economic and Trade Agreement (CETA)
Gulf Co-operation Council (GCC), i.e. Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates
EU-US trade deal is
US-EU plans to join forces via a free-trade agreement are taking on shape.
Goods and services traded between the EU and US constitute the
largest bilateral economic partnership
in the world.
Daily, they amount to more than 1.8 billion euros ($2.4 million).
The combined GDPs of the US and EU account for approximately half of worldwide economic output and one-third of the global flow of goods.
According to EU estimates, a comprehensive free-trade agreement between the EU and US would
raise the EU's GDP by one-half percent, or 66 billion euros per year. A similar increase is expected for the US.
What do you think?
Are you for or against TAFTA?
Thank you for your attention!
need to know after NAFTA
8:00 - 9:00