An Expansion of NAFTA into a North American Union

Open Access
Author:
Talbot, Austen
Area of Honors:
Economics
Degree:
Bachelor of Science
Document Type:
Thesis
Thesis Supervisors:
  • Andrés Rodríguez Clare, Thesis Supervisor
  • David Shapiro, Honors Advisor
Keywords:
  • economics
  • nafta
  • european union
  • canada
  • united states
  • mexico
Abstract:
The North American Free Trade Agreement is a trade agreement between Canada, Mexico, and the United States which has drastically reduced trade barriers between member countries and facilitated increased trade and prosperity in these regions. Following the success of NAFTA, a likely next step would be to expand the breadth of the agreement and to develop closer economic and political ties among members. The European Union is of much relevance to any progression of NAFTA. Looking at the history and evolution of the EU, one may theorize about a beneficial progression for NAFTA members to follow. As the EU has already invested years examining the important factors and methods for integration, NAFTA members may benefit from the results. Taking many cues from the European Union, this thesis will examine what a North American Union might look like and what elements may or may not be of benefit to Union members. This will cover topics as minimal as further reduction of trade barriers between NAFTA members to proposals of currency union and member expansion to the likelihood and benefit of full economic and political integration of a North American Union.