School of Business

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As a result of rapid growth in exports and imports between countries throughout the world, countries sought more economical ways to facilitate trade. In an attempt to increase greater volume of international trade among most favored nation countries both the GATT and NAFTA agreements were formed. This paper will research the foundations of both GATT and NAFTA from conception to their current day utilization. Such topics as harmonization, tariffs and non-tariffs barriers, and protection of infant industries and general economics of these agreements will be highlighted and discussed. Also, an analysis of some legal issues and challenges that have recently occurred between both customs agreements will be researched.

Published in the International Journal of Business and Social Science, v. 3, no. 2.



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