NAFTA Celebrates A Happy Fifth Birthday
January 4, 1999
The North American Free Trade Agreement (NAFTA) turned five years old on January 1. Supporters point to the benefits that have accrued to all the trading partners in the previous five years.
- U.S.-Mexico trade has nearly doubled what it was before the agreement went into effect.
- In the past five years, the U.S. has seen a net increase of 680,000 jobs.
- In the past five years, Mexico has surpassed Japan as the second-largest market for U.S. exports.
Furthermore, many economists believe Mexico quickly weathered its currency plunge in 1994 because of the strength given to its economy by the treaty.
Source: Editorial, "NAFTA at Five," Dallas Morning News, January 4, 1999.
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