1993 North America Free Trade Agreement
Promised More Trade and Jobs
President Clinton's 1993 Speech made promises
"It will create the world's
largest trade zone and
create 200,000 jobs in this country by 1995 alone." Global economy
"...has enriched the lives of millions of Americans. But for too many
those same winds of change have worn away at file basis of their security.
For two decades, most people have worked harder for less." "Every
worker must receive the education and training he or she needs to reap
the rewards of international competition rather than to bear its burdens."
It didn't happen. The Trade Assistance Act is designed to
help workers displaced by trade. It has demonstrated overall low
effectiveness so far which is reflected in the controversy to reauthorize
the program before the 112th Congress.
General Electric, Corporate and Caterpillar promises Jobs But!
Result Were Not Good, Banking Expanded
Economic Priority Institute Reported the
Negatives of NAFTA
1) By 2002 it had caused 700,000 jobs to Mexico.
2) It strengthened the ability of U.S. employers to force workers to
accept lower wages, benefits.
3) The destructive effect of NAFTA on the Mexican agricultural and
small business sectors dislocated several million Mexican workers and
their families, and was a major cause in the dramatic increase in
undocumented workers flowing into the U.S. labor market
4) Fourth, and ultimately most important, NAFTA was the template for
rules of the emerging global economy, in which the benefits would flow
to capital and the costs to labor
Cumulative Lost Jobs Approaching 30 million in 2012
Although U.S. domestic exports
to its NAFTA partners have increased dramatically—with real growth of
95.2% to Mexico and 41% to Canada—growth in imports of 195.3% from Mexico
and 61.1% from Canada overwhelmingly surpass export growth
Many World Bankers Made Lots
Mexico Not So Much
Mexico lost control of her banks as
foreign control increased from 1%
over 70% and growth continued
Few Program Participants Received Trade Adjustment Assistance
Education and Training provided by
Trade Adjustment Assistance (TAA) failed to achieve meaningful
results. Designed to help
"...program participants obtain new jobs faster, ensuring they retain
employment and earn wages comparable to their prior employment, "In
FY2011 there were over 196,000 TAA participants and only around 46,000
received Trade Readjustment Allowance (TRA)."image