LEARN NC

K–12 teaching and learning · from the UNC School of Education

About this resource

Appropriate grades
10–12
Provider
National Council on Economic Education

Legal

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NAFTA, the North American Free Trade Agreement, went into effect on January 1, 1994. The Agreement phases out most tariffs between the United States, Canada, and Mexico. Tariffs, which are taxes on imports, increase the price of foreign goods and thereby benefit domestic producers. The participants in NAFTA agreed to reduce tariffs by 50 percent immediately and to reduce them to zero over the following 15 years. Industries suffering the most because of the increased competition from foreign goods would be given extra time to adjust to the elimination of tariffs on their foreign competitors' products.

North Carolina Curriculum Alignment

Social Studies (2003)

Grade 10 — Economics and Civics

  • Goal 9: The learner will analyze factors influencing the United States economy.
    • Objective 9.05: Explain the impact on the United States economy of international trade and global products.

Grades 11–12 — Contemporary Issues in North Carolina History

  • Goal 4: The learner will examine the state of North Carolina's economy and consider ways to improve current conditions.
    • Objective 4.01: Compare and contrast the economic situations in North Carolina over the last decade.
    • Objective 4.02: Analyze the changes and reasons for those changes.
    • Objective 4.03: Describe suggestions for solving economic problems.

Grades 11–12 — Economics

  • Goal 8: The learner will analyze the international dimensions of economics.
    • Objective 8.01: Explain the benefits of trade among individuals, regions, and countries.
    • Objective 8.02: Define trade barriers, such as quotas and tariffs, and cite how different countries use them.
    • Objective 8.07: Evaluate the benefits and costs of free trade.

Grades 11–12 — Latino American Studies

  • Goal 4: The learner will examine the relationship between Latin American countries and the United States.
    • Objective 4.01: Describe the diplomatic relationships with the United States and Latin American countries and analyze their economic impact on Latin America.
    • Objective 4.02: Analyze the impact of trade, industry, and United States' monetary investment in selected Latin American countries up to the present day.