Bill Clinton signed the House approved Treaty into law, but not before making significant changes
Here's your changes and what it caused...
It caused the permanent loss of 700,000 manufacturing jobs in industrial states such as California, Texas and Michigan.
Bill Clinton helped gut America’s manufacturing base by promoting and passing the North American Free Trade Agreement, or
NAFTA, in 1993, when Democrats controlled Congress. That especially resonates today, when another Democratic president, Barack Obama, and Republicans in Congress, are allied against labor unions and liberal Democrats to pass its like-minded descendant, the
Trans Pacific Partnership. “NAFTA signaled that the Democratic Party—the “progressive” side of the U.S. two-party system—had accepted the reactionary economic ideology of Ronald Reagan,” wrote Jeff Faux, on the Economic Policy Institute
Working Economics Blog.
In 1979, then-candidate Reagan proposed a trade pact between the U.S., Canada and Mexico. But the Democrats who controlled the Congress would not approve it until Clinton pushed it in his first year in office. NAFTA has affected U.S. workers in four major ways, EPI said. It caused the permanent loss of 700,000 manufacturing jobs in industrial states such as California, Texas and Michigan. It gave corporate managers an excuse to cut wages and benefits, threatening otherwise to move to Mexico. Selling U.S. farm products in Mexico “dislocated millions of Mexican workers and their families,” which “was a major cause in the dramatic increase in undocumented workers flowing into the U.S. labor market.” And NAFTA became a “template for rules of the emerging global economy, in which the benefits would flow to capital and the costs to labor.”
The World Trade Organization, World Bank, International Monetary Fund all applied NAFTA's principles, which gave corporations the power to challenge local laws protecting health and safety if they cut into profits—like labeling tobacco packaging. The NAFTA “doctrine of socialism for capital and free markets for labor” could also be seen in the way the U.S. government “organized the rescue of the world’s banks and corporate investors and let workers fend for themselves” in the Mexican peso crisis of 1994-'95, the Asian financial crash of 1997, and the global financial meltdown of 2008.
Many Americans do not associate Clinton with his dark legacy.
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