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Because the three NAFTA member countries had been trading for ages before NAFTA, what are the...

Because the three NAFTA member countries had been trading for ages before NAFTA, what are the benefits of an FTA such as NAFTA? Furthermore, as a consumer, what has NAFTA done to help or hurt you and your community?

Pick a firm from your state or country that is active in at least two (preferably three) member countries via trade and investment. How does it prepare for the scenario that NAFTA benefits are curtailed?

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Almost a quarter century has passed since NAFTA was implemented in 1994. And much has changed. The internet was still in its infancy, while smartphones and self-driving cars were barely imaginable Thats why modernization - updating rules and standards to keep up with the times the trade deal tying the North American continent together. is a critical and positive update to While NAFTA was the first trade treaty to include intellectual property protections, the high pace of innovation has made modernization of its provisions imperative. The new agreement includes stronger protections for patents and trademarks in areas such as biotech, financial services and domain names - all of which have advanced considerably over the past quarter century. It also contains new provisions governing the expansion of digital trade and investment in innovative products and services. Separately, negotiators agreed to update labor and environmental standards, which were not central to the 1994 accord and are now typical in modern trade agreements. Examples include enforcing a minimum wage for autoworkers, stricter environmental standards for Mexican trucks and lots of new rules on fishing to protect marine life. Apart from the changes, there is one important thing about the original NAFTA that will stay, thanks to the insistence of Canada. Chapter 19 is the dispute settlement mechanism that allows countries to seek remedies for breaking the rules. Its like trade court and makes it much easier to challenge another countrys policies.

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