National American Free Trade Agreement (NAFTA) was established to set rules of trade between Canada, United States, and Mexico. The main goal is to eliminate barriers to trade and investment between the three NAFTA nations.
Since NAFTA’s inception on January 1, 1994, most tariff and non-tariff barriers to free trade and investment between Canada, United States, and Mexico were eliminated. North American businesses, consumers, farmers, and workers have benefited.
February 2015, U.S. trade with the other two NAFTA countries declined to its lowest range since 2011. However, statistics show that trucks are still the most used vehicle of transporting goods to and from Canada and Mexico – a good sign that the freight transportation industry will make it through another round of highs and lows.
Product always has to be shipped. As one cycle slows it simply stages the next cycle for a rebound. As the next round of ebb and flow moves towards a recovery, the consistency in truckers being the go-to source of transportation could spike interest in the shipping and transportation industry. Here’s to further progress in our industry.