[Public Papers of the Presidents of the United States: George H. W. Bush (1992-1993, Book II)]
[August 12, 1992]
[Pages 1340-1341]
[From the U.S. Government Publishing Office www.gpo.gov]



Remarks Announcing the Completion of Negotiations on the North American 
Free Trade Agreement
August 12, 1992

    Today marks the beginning of a new era on our continent, on the 
North American Continent. This morning the United States, Mexico, and 
Canada are announcing the completion of negotiations for a North 
American free trade agreement, NAFTA.
    First, I want to express my deep appreciation to Ambassador Carla 
Hills, our United States Trade Representative, to Secretary Serra of 
Mexico, and to Minister Wilson of Canada for this outstanding 
achievement. Also standing next to me is Carla Hills' Deputy, my able 
friend Jules Katz, who had a very instrumental role in all these 
negotiations.
    This historic trade agreement will further open markets in Mexico, 
Canada, and the United States. It will create jobs and generate economic 
growth in all three countries. Increased trade with North America will 
help our Nation prepare for the challenges and opportunities of the next 
century.
    The cold war is over. The principal challenge now facing the United 
States is to compete in a rapidly changing, expanding global 
marketplace. This agreement will level the North American playing field, 
allowing American companies to increase sales from Alaska to the 
Yucatan. By sweeping aside barriers, NAFTA will make our companies more 
competitive everywhere in the world. We've seen this happen with the 
U.S.-Canada Free Trade Agreement, and we'll see it even more with the 
NAFTA.
    Open markets in Mexico and Canada mean more American jobs. Our 
Nation is the world's leading exporter, well ahead of Japan and Germany. 
Today over 7 million Americans are hard at work making products that 
will be sold around the world. Export-related jobs pay 17 percent more

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than the average U.S. wage. These jobs are the kind that our Nation 
needs to grow and prosper, the kind that showcase American talent and 
technology.
    More than 600,000 Americans are now employed making products and 
selling them to Mexico, our fastest growing export market. We sold over 
$33 billion worth of goods to Mexico last year and are projected to sell 
$44 billion this year. In the last 5 years, as President Salinas has 
dismantled many longstanding Mexican trade and investment restrictions, 
our exports to Mexico have nearly tripled. In the last 5 years, let me 
repeat that, our exports to Mexico have nearly tripled. That's one-
quarter of a million new American jobs. This agreement helps us lock in 
these gains and build on them.
    Last year the Congress endorsed moving forward with NAFTA by 
extending the Fast Track procedures for congressional consideration and 
implementation of trade agreements. The rapid completion of the NAFTA 
talks shows how much can be accomplished when the executive branch and 
the Congress work together to do what is best for our Nation. And I'll 
work closely with the Congress for rapid implementation.
    At the time Fast Track was extended, I outlined steps that we would 
take to address environmental and labor concerns. We've taken every 
promised step, and we are meeting or beating every commitment that I 
outlined. This is the first time a trade agreement has included 
stringent provisions to benefit the environment. The NAFTA maintains 
this Nation's high environmental, health, and safety standards. In fact, 
it goes even further and encourages all three countries to seek the 
highest possible standards.
    The Environmental Protection Agency and its Mexican counterpart have 
already developed a comprehensive integrated border plan to clean up 
air, water, and hazardous wastes along the Rio Grande. These problems 
are serious, but they will be solved by environmental cooperation, 
increased trade, and higher levels of economic growth, not 
protectionism. Unfortunately, Congress has reduced the funding for our 
border plan in the appropriations process. I ask the Congress to fully 
fund these important environmental initiatives.
    With NAFTA we're moving forward with our trade strategy. Trade is 
part of my long-term economic growth plan to create more opportunities 
for all Americans. In a changing world, we must give our workers the 
education and skills they need to compete and assistance and training to 
find good jobs. I've said many times: Level the playing field and the 
American worker can outthink, outproduce, and outwork anyone, anytime.
    Today's historic agreement links our future with our past. Five 
centuries ago this very month, a man of courage and vision set sail from 
the Old World in search of new trade routes and opportunities. 
Christopher Columbus was an entrepreneur, and the journey he started 500 
years ago continues to pay off abundantly today. By moving forward with 
the NAFTA, with the North American free trade agreement, we will 
replenish that investment, opening up new horizons of opportunity and 
enterprise in the New World.
    So this is a good day for America, a good day for North America. 
Once again, I want to express my appreciation to Ambassador Hills and 
her extraordinarily able team, who have worked literally day and night 
for months to complete this negotiation phase of the agreement. It's 
good news, and as I understand it, the Ambassador will be having a 
briefing on the details of it in a few minutes from now.
    Thank you all very much.

                    Note: The President spoke at 7:50 a.m. in the Rose 
                        Garden at the White House. In his remarks, he 
                        referred to Jaime Serra Puche, Mexican Secretary 
                        of Commerce and Industrial Development, and 
                        Michael Wilson, Canadian Minister of 
                        International Trade.