bill clinton was the us president when nafta was developed.
bill clinton was the us president when nafta was developed.
who was the us president when nafta was developed?
bill clinton
the three-nation nafta was signed by president george h. w. bush during december 1992, pending its ratification by the legislatures of the three countries. clinton did not alter the original agreement, but complemented it with the north american agreement on environmental cooperation and the north american agreement on labor cooperation, making nafta the first "green" trade treaty and the first trade treaty concerned with each country's labor laws, albeit with very weak sanctions. nafta provided for gradually reduced tariffs and the creation of a free-trading bloc of north american countries–the united states, canada, and mexico. opponents of nafta, led by ross perot, claimed it would force american companies to move their workforces to mexico, where they could produce goods with cheaper labor and ship them back to the united states at lower prices. clinton, however, argued that nafta would increase u.s. exports and create new jobs. clinton while signing the nafta bill stated: "...nafta means jobs.
economic policy of the bill clinton administration
more recently, working-class individuals in mexico share the view that nafta has failed on its promises. wages for manufacturing workers have remained stagnant, and instead of opportunity, many workers see nafta as holding back expansion. a worker interviewed for the new york times indicated that "i thought it [nafta] would make my life better, that this agreement would create opportunities for everyone". public polling in mexico showed that two out of three people generally view nafta as being bad for mexico. luis rubio, a pro-free trade researcher indicated that nafta "created the perception that things would get better, but the truth is we have two economies, one of exporting and the other one left behind," indicating that process that was made under nafta was not shared by all. owners of large companies that operate in mexico have even shown more critique towards nafta, though they place blame on the mexican government for failing to "establish policies to protect mexican businesses". however, in contrast to some of the rhetoric in the united states, mexicans see nafta as being beneficial despite the difficulties due to the linking of the mexican economy to the united states and the sustained foreign investment. by-and-large, the sentiments amongst the business class is that nafta needs to be revisited, not removed. elites and free-trade proponents in mexico have heralded nafta as a success on the basis of new foreign investments and the increased stability of the business environment within mexico. they also push the idea that failures are due to an unwillingness to move on from the past by those affected by nafta. overall, the working class shares a largely negative outlook towards nafta, where the elites and free-trade advocates look at nafta’s benefits outweighing the detriments. however, the overall belief is that nafta needs to be fixed and not removed. on september 30, 2018, trump alongside the two other leaders from the other countries (canada/mexico) signed uscma.
effects of nafta on mexico