Retaliatory tariffs Mexico placed under NAFTA Research Paper - 1

Retaliatory tariffs Mexico placed under NAFTA - Research Paper Example Major impact has been on agricultural trading relation between USA and Mexico. According to trade statistics Mexico exports 80% of its agricultural exports to USA, and since the implementation of NAFTA, agricultural exports between USA and Mexico have increased by 9% every year, thus asserting that NAFTA has benefited both the nations (Agricultural trade, n.d.). The retaliatory tariffs that Mexico implemented on various imported goods from USA continued from March 2009 to October 2011. These tariffs were imposed when USA failed to meet the trucking provisions of NAFTA. Mexico initiated these tariffs keeping within the structure of dispute resolution process of NAFTA. In July 2011, a formal agreement was signed that made decisions regarding implementation of trucking provisions of NAFTA (Zahniser, et al, 2011, p.2). NAFTA came into force on January 1, 1994. It created a trilateral trading relation between USA, Canada and Mexico creating the largest single market of goods and services with these neighbouring nations as the members. The customer base of this treaty was nearly 440 million. The objective was to remove all tariffs on goods that are traded between the three nations thus creating a free trade area by the year 2009. The estimated annual valuation of traded goods between these nations was $ 14 trillion. (Ferrell, et al, 2011, p.98) NAFTA implementation has brought immense changes in the economic and trading relations between USA and Mexico and all these have had great trade impacts in USA. When NAFTA was signed by the three nations, the USA-Canada free trade agreement was already in practice for five years. There were amalgamations of many industries in USA and Canada. Mexico in the pre-NAFTA era was following a policy to produce goods that would substitute imported goods from the USA. One such example was Mexican automotive industry which was ruled by many decrees pronounced

HIS 202 Essay Example | Topics and Well Written Essays - 1000 words

HIS 202 - Essay Example In the two documents, Hamilton is seen to have drawn his arguments to Washington’s request much more deliberately than Thomas Jefferson (Hofstedter, pg. 164). Hamilton was capable of giving best answer because he had papers written from Virginians Thomas Jefferson and Edmund Randolph against the creation of the Bank of the United States. According to the American history regarding the Bank of the United States, Thomas Jefferson and Alexander Hamilton were the most studied and beloved figures. And today, standard bearers of conservatism, radicalism as well as liberalism are utilizing their complex views to legitimize their arguments. The study also shows that various laws, values and customs have shaped the development of banking institutions in the United States in a distinctive way; however, it is evident that none has done so more than the vicious debate between Alexander Hamilton and Thomas Jefferson over the development of the bank in 1791. Jefferson argues that, the issue on the constitutionality of the bank may be a question does not extend the power of the government beyond the prescribed limits given that it only affirms a power to incorporate specified powers (Hofstedter, pg. 168). ... 52)†. From this quote, it can be evident that Jefferson condemns the system of banking as being corrupt, and that the long-term government debt was going to swindle the future generations. He goes on and says that the incorporation of a bank, and powers assumed by the bill have not been and his opinions are that it has been delegated to the United States by the constitution (Heffnerer, pg. 54). He further argues that the circumstances that powers of sovereignty in America, the country will still remain divided between the national as well as the state government since they does not afford the distinction which is required (Heffnerer, pg. 55). Jefferson opinions were that, the constitutionality of the Bank of the United States were not among the powers specially enumerated since these were only a power to lay taxes for the purposes of paying the debts of the United States, but no debt was to be paid from the bill nor any tax levied and so, this was a bill to raise money hence it s origination in the Senate would condemn it by the constitution (Heffnerer, pg. 52). Thomas Jefferson continues to argue that the situation that the powers of the sovereignty are in the United States and are divided between the national as well as, the state governments does not necessarily afford the distinction which is required. For instance, this does not follow from each of portion o powers delegated to one or to the other is not sovereign in regard to its proper objects. Alexander Hamilton, Opinion on the constitutionality of the Bank Hamilton’s opinion on the bank laid classical arguments of the people who favored an effective central government as well as, a national power.