[Congressional Record Volume 140, Number 145 (Friday, October 7, 1994)]
[Senate]
[Page S]
From the Congressional Record Online through the Government Printing Office [www.gpo.gov]


[Congressional Record: October 7, 1994]
From the Congressional Record Online via GPO Access [wais.access.gpo.gov]

 
                                 NAFTA

 Mr. DeCONCINI. Mr. President, about this time last year, 
Congress was engaged in a contentious debate about the North American 
Free-Trade Agreement. Many colorful remarks were made about the 
supposed effects NAFTA would have on the American economy. Many of the 
most memorable, were those made by Ross Perot. He claimed that with the 
passage of NAFTA there would be a ``giant sucking sound'' of jobs being 
lost in the United States and moved to Mexico.
  Almost 1 year after NAFTA went into effect, however, the facts paint 
a much different picture than the alarmist concerns raised by some 
opponents of NAFTA. For example, in my home State of Arizona, it is 
estimated that our State's exports to Mexico in the first half of 1994 
were up almost 25 percent. This comes on the heels of the 1993 all-time 
record high for exports to Mexico--$1.9 billion. Nationwide, United 
States exports to Mexico in the first half of this year were up 17 
percent, a record level. Our exports to Canada during the same period 
increased 10 percent. These export figures compare to our exports to 
the rest of the world which increased 5 percent over the same period.
  This increase in exports to Mexico and Canada will support an 
estimated 100,000 new American jobs in 1994. These jobs are in such 
areas as agriculture, semiconductors, computer equipment, electronics 
and other consumer items.
  By reducing tariffs and other barriers to trade among the United 
States, Mexico, and Canada, NAFTA has made American products more 
available for Mexicans and Canadians. And when our exports are 
available they are popular with consumers because of their high 
quality. With the implementation of NAFTA we have created the largest 
free trade area in the world where American products are welcomed, not 
blocked.
  Several examples from Arizona show that American companies are taking 
advantage of reduced tariffs and import restrictions to start selling 
their products and services to Mexican consumers. An Arizona housing 
company has contracted to build 1,000 housing units in Nogales, 
Mexicali, and Tijuana using building materials from the United States, 
a Phoenix-based bank has created a group to provide financing to 
medium-sized businesses seeking to increase their exports to Mexico and 
has joined with the largest Mexican commercial bank to establish a 
credit card service in Latin America, and a Phoenix based retailer is 
opening locations in Mexico. These are just a few of the many examples 
from Arizona of companies which are taking advantage of the tremendous 
opportunities created by NAFTA to increase the sale of their goods and 
services into Mexico.
  Passage of NAFTA was a difficult political battle for the President 
and congressional supporters of NAFTA. But as we approach the 1 year 
anniversary of the implementation of NAFTA, all assessments show that 
voting for NAFTA was the right vote. NAFTA has been greatly beneficial 
for American companies and American jobs.

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