In 1987, the U.S. and Canada had reached a free trade agreement that eliminated many tariffs between the two countries.
President Reagan had intended it as the first step towards a larger trade agreement to eliminate most tariffs among the United States, Canada, and Mexico.
The Bush administration, along with the Progressive Conservative Canadian Prime Minister Brian Mulroney, spearheaded the negotiations of the North American Free Trade Agreement (NAFTA) with Mexico.
In addition to lowering tariffs, the proposed treaty would affected patents, copyrights, and trademarks.
In 1991, Bush sought fast track authority, which grants the president the power to submit an international trade agreement to Congress without the possibility of amendment.
Despite congressional opposition led by House Majority Leader Dick Gephardt, both houses of Congress voted to grant Bush fast track authority.
NAFTA was signed in December 1992, after Bush lost re-election, but President Clinton won ratification of NAFTA in 1993.
NAFTA remains controversial for its impact on wages, jobs, and overall economic growth.
In 1987, the U.S. and Canada had reached a free trade agreement that eliminated many tariffs between the two countries. President Reagan had intended it as the first step towards a larger trade agreement to eliminate most tariffs among the United States, Canada, and Mexico. The Bush administration, along with the Progressive Conservative Canadian Prime Minister Brian Mulroney, spearheaded the negotiations of the North American Free Trade Agreement (NAFTA) with Mexico. In addition to lowering tariffs, the proposed treaty would affected patents, copyrights, and trademarks. In 1991, Bush sought fast track authority, which grants the president the power to submit an international trade agreement to Congress without the possibility of amendment. Despite congressional opposition led by House Majority Leader Dick Gephardt, both houses of Congress voted to grant Bush fast track authority. NAFTA was signed in December 1992, after Bush lost re-election, but President Clinton won ratification of NAFTA in 1993. NAFTA remains controversial for its impact on wages, jobs, and overall economic growth.
George H. W. Bush