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Dec 8, 2018 · On this day in 1993, Bill Clinton, the first Democratic president in 12 years, signed the North American Free Trade Agreement into law. The pact, which took effect on Jan. 1, 1994, created the...
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The North American Free Trade Agreement (NAFTA) is signed into law by President Bill Clinton. Clinton said he hoped the agreement would encourage other nations to work toward a broader world-trade pact.
NAFTA, a trade pact between the United States, Canada, and Mexico, eliminated virtually all tariffs and trade restrictions between the three nations. The passage of NAFTA was one of Clintons first major victories as the first Democratic president in 12 yearsthough the movement for free trade in North America had begun as a Republican initiative.
During its planning stages, NAFTA was heavily criticized by Reform Party presidential candidate Ross Perot, who argued that if NAFTA was passed, Americans would hear a giant sucking sound of American companies fleeing the United States for Mexico, where employees would work for less pay and without benefits. The pact, which took effect on January 1...
- Missy Sullivan
Nov 30, 2018 · That treaty, which President Bill Clinton signed on Dec. 8, 1993, was meant to “eliminate most trade barriers between the three countries,” as TIME phrased it back then.
Sep 6, 2016 · When President Bill Clinton signed the North American Trade Agreement (NAFTA) in December 1993, he predicted that “NAFTA will tear down trade barriers between our three nations, create the world’s largest trade zone, and create 200,000 jobs in [the U.S.] by 1995 alone.
Perot ultimately lost the election, and the winner, Bill Clinton, supported NAFTA, which went into effect on January 1, 1994.
Dec 8, 1993 · In light of a changing global economy, President Bill Clinton discusses the North American Free Trade Agreement (NAFTA), which allows for fairer and more efficient trade between the United States, Canada, and Mexico.
During his time in office, Bill Clinton passed the North American Free Trade Act (NAFTA) in 1993, allowing for the free movement of goods between Mexico, the United States, and Canada, signed legislation repealing the Glass-Steagall Act, a major plank of Franklin Roosevelt’s New Deal banking regulation, and deregulated the trading of ...
