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Kimberly's US Economy Blog

By Kimberly Amadeo, About.com Guide to US Economy

Has Obama Forgotten NAFTA Promise?

Friday July 10, 2009
Obama

The North American Free Trade Agreement, or NAFTA, was an important point in Obama's Presidential Campaign platform. However, he seems to be backing away from his promise to renegotiate the agreement. In a meeting with Mexican President Felipe Calderon in April, Obama said that any NAFTA renegotiation would need to wait until after the economic crisis passes. Any disruption to NAFTA trade could further slow the economy.

NAFTA is the world's largest free trade area. The agreement between Canada, the U.S. and Mexico links 439 million people and produces $15.3 trillion in goods and services annually. Some of the advantages include a tripling of trade between the NAFTA signatories from $297 billion in 1993 to $903 billion in 2007. Critics say that the agreement has led to a net loss of 879,000 jobs in the U.S., and a decline in labor protection and degradation of the environment in Mexico.

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Comments

July 12, 2009 at 6:32 pm
(1) Madwesh says:

Obama is fixing the following problems all at the same time:
- Healthcare (instead of Insurance)
- Auto
- Financial
- Afganistan
- Iraq
- FDA
- Immigration
- Recession

Meanwhile, he has actually has time to go to Ghana and American summit instead of helping bring people together – his own Democrats at that. Since he has the time, he should fix NAFTA as well.

I am surprised the media did not call him out on “..country that invented the automobile..” during State-of-the-Union and on being disappointed on not having a “button to press that would fix Washington”.

Clear sign’s of a person who has not seen or operated in a large organization, let alone lead it.

July 12, 2009 at 6:49 pm
(2) useconomy says:

Hi Madwesh,

Excellent point. I should have used one of your lines for my article title

“If Obama Has Time for Ghana, He Has Time for NAFTA.”

Kimberly

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