NAFTA Devastated Mexico’s Rural Sector and Increased Poverty
The North American Free Trade Agreement (NAFTA) was sold to the people of all three countries with grand promises. Mexicans were promised NAFTA would raise their wages and bring Mexicans’ standards of living closer to the United States and Canada. Instead, after 24 years, real wages in Mexico are down from already low pre-NAFTA wages, two million Mexicans engaged in farming lost their livelihoods and lands, tens of thousands of small businesses have gone bankrupt as American big-box retailers moved in, and poverty remains widespread. And, Mexican taxpayers have paid foreign investors more than $204 million in compensation following Investor-State Dispute Settlement attacks.