The North American Free Trade Agreement And The General Agreement On Trade And Tariffs

In a 2015 report, the Congressional Research Service summarized several studies as follows: “In reality, NAFTA did not cause the huge job losses that critics feared or the significant economic benefits predicted by supporters. The overall net effect of NAFTA on the U.S. The economy appears to have been relatively modest, mainly because trade with Canada and Mexico accounts for a small percentage of U.S. GDP. However, there have been adaptation costs for workers and businesses as all three countries have prepared for more open trade and investment between their economies. “[93]:2 Economists generally agreed that the U.S. economy benefited overall from NAFTA by increasing trade.