Proponents argued that creating a free trade area in North America would bring prosperity by increasing trade and production, which would create millions of well-paying jobs in all participating countries. From the beginning, NAFTA`s critics feared that the deal would result in the transfer of U.S. jobs to Mexico, despite the complementary naalc. For example, NAFTA has affected thousands of American autoworkers in this way. Many companies have relocated production to Mexico and other countries where labor costs are lower. However, NAFTA may not have been the source of these measures. President Donald Trump`s USMCA should dispel these concerns. The White House estimates that the USMCA will create 600,000 jobs and add $235 billion to the economy. Other NAFTA provisions are expected to allow U.S. and Canadian companies to have better access to Mexican markets in the banking, insurance, advertising, telecommunications and transportation sectors.
Mexico is the third largest trading partner of the United States and the second largest export market for American products. In 2018, Mexico was our third largest trading partner (after Canada and China) and the second largest export market. Reciprocal trade in goods and services totalled $678 billion, and this trade directly and indirectly supports millions of US dollars.