10/24/2018 – The Hill
By Alison Acosta Winters
When it took effect in 1994, the North American Free Trade Agreement (NAFTA) created the largest trading market in the world. NAFTA lifted tariffs on the majority of goods produced and traded by the U.S., Canada and Mexico.
At that time, the three signatories had a combined 365 million people and GDP totaling $6 trillion. Today, NAFTA encompasses a market of 500 million people with a combined GDP of $25 trillion.
NAFTA has been a boon for U.S. producers and consumers. Canada and Mexico are our number one and two export markets, respectively, as we exported almost $500 billion worth of goods to them in 2016. And of the 14 million American jobs supported by trade with Mexico and Canada, 5 million are a direct result of NAFTA. It is vital to our prosperity to continue that strong trade relationship.