NAFTA Transforms North American Trade, Boosts Economies and Jobs
The article explores the impact of the North American Free Trade Agreement on different sectors of the economy. Researchers used general equilibrium models to analyze how trade policies affect countries like Mexico, the US, and Canada. They found that the agreement led to gains for Mexico, changes in wages in the US, and impacts on industries like agriculture and autos. The study also looked at the effects of trade liberalization on specific items like textiles and steel. Additionally, dynamic models were used to understand the long-term effects of the trade agreement.