The Pros And Cons Of NAFTA

The oncoming choice to abandon NAFTA is an issue best reflected by observing our previous mistake of abandoning the Trans-Pacific Partnership Agreement. The onslaught of drawbacks caused by this (leaving the TPP) are businesses losing profit, workers losing income, and overall the loss of benefits of greater productivity and reduced prices that would have been beneficiary once the TPP had been fully implemented. In similar fashion, tariffs on imports from China and Mexico would not only be negative to income and the economy, but would also drive China and Mexico to put tariffs on imports from the United States and could possibly send us into another depression as seen in failed attempts at setting high tariffs; for example, the smoot- hawley tariff. To Start, Capitalism is essentially driven by consumerism, in times of struggle the amount of capital is increased to encourage people to buy more from the products of trade and industry housed by private business owners.To give an example on how big consumerism is in the american culture, according to worldwatch.org “The United States, with less than 5% of the global population, uses about a quarter of the world’s fossil fuel resources—burning up nearly 25 % of the coal, 26 % of the

One main difference was that the TPP was between multiple countries across the Pacific rather than just three connected countries. This agreement would have focused on other aspects aswell such as Child labor, labor laws, and minimum wage among other good things. The TPP would have also limited China’s manipulation of global trade on such a scale, therefore being good for America. Unfortunately, because we have backed out of the TPP we lose all benefits it would have ensured, we can’t make the same mistake with NAFTA and let prices for consumers skyrocket as well as the other negative effects leaving it would