In three separate ceremonies, in the three capitals on Dec. 17, 1992, President George H.W. Bush, Mexican President Salinas, and Canadian Prime Minister Mulroney signed the historic North American Free Trade Agreement (NAFTA). The framework agreement proposed to eliminate restrictions on the flow of goods, services, and investment in North America. After passing through both the U.S. House of Representatives and the U.S. Senate, NAFTA was signed into law by President Clinton December 8, 1993, and took effect on January 1, 1994.
The CalChamber’s support for NAFTA is based upon an assessment that it serves the employment, trading and environmental interests of California and the United States, as well as, Canada and Mexico, and is beneficial to the business community and society as a whole.
Since 1993, trade between the three NAFTA countries has more than tripled.
The U.S. Department of Commerce shows that Mexico continues to be California’s number one export market with California exports to Mexico totaling $18.3 billion. Mexico purchases 14 percent of all California exports.
Two-way trade between Canada and the United States totaled $561 billion in 2007 - the largest bilateral exchange in the world. Canada moved up to become California's second largest export market, with California exports to Canada increasing to $16.1 billion in 2007.
"CalChamber Companies in the News" is a new regular feature in the CalChamber's Trade Update newsletter, highlighting the international activities of member companies who have been featured in the news. If you have an article that you would like to be featured in this new section, please send it to Abby Browning (abby.browning@calchamber.com).
California Coalition For Free Trade The CalChamber Council for International Trade (CIT) is urging members of the business community to join (click here to download membership form) its coalition working to secure congressional approval of the free trade agreements (FTAs) with Colombia, Panama and South Korea. Companies or associations that join the California Coalition for Free Trade will be included on the rapidly growing list of FTA supporters. There is no cost to join the coalition, which will keep members apprised of its activities and how to be supportive of the FTAs. For more information on the FTAs or to join the coalition, visit www.calchamber.com/international
U.S.-Colombian Trade
Promotion Agreement
A bilateral TPA that will
lower tariffs and foster increased trade between both
countries. This agreement is a critical element of a possible
U.S.-Andean Free Trade Agreement and of the U.S. strategy to
liberalize trade through bilateral, regional and multilateral
initiatives.
CalChamber position: Support
Status:
Pending Congressional Action Click here for Additional Information
U.S.-Panama
Free Trade Agreement
A bilateral FTA that will
lower tariffs and foster increased trade between both
countries. A U.S.-Panama Free Trade Agreement is a critical
element of the U.S. strategy to liberalize trade through
multilateral, regional and bilateral initiatives. The
agreement will also increase momentum toward lowering trade
barriers and set a positive example for other small economies
in the Western Hemisphere.
CalChamber position: Support
Status: Pending Congressional Action Click here for additional
information
U.S.-Korea Free Trade
Agreement
A bilateral FTA which will lower tariffs
and foster increased trade between both countries and is a
critical element of the U.S. strategy to liberalize trade
through multilateral, regional and bilateral initiatives.
CalChamber position: Support
Status: Pending
Congressional Action Click here for additional
information
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