This appears to violate the freedom of association guaranteed by our US Constitution.
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Financial Services Chapter of the NAFTA
During the initial NAFTA negotiations, Mexico started the deregulation of its financial services industry, a mandatory pre-requisite to joining NAFTA. Some of the important changes carried out by NAFTA included the establishment of domestic subsidiaries of banks in each member country, the granting of national treatment to foreign banks and extends most-favored-nation treatment to financial firms of member countries. This is seen within the text of NAFTA itself:
Right of Establishment. Each NAFTA country must permit investors from the other NAFTA countries to establish institutions within its territory on a non-discriminatory basis. Each NAFTA country is permitted to determine the form of establishment within its territory. Thus, the United States will continue to permit entry for banks either in the form of branches or subsidiaries. Canada will continue to require establishment in the form of a subsidiary, as is now the case under the U.S.-Canada FTA. Mexico has indicated that it also intends to require subsidiaries.... The agreement recognized, however, that in principle investors should have the right to choose the form of establishment-branch or subsidiary- that best meets their particular needs. Consequently, the Agreement provides for future negotiation of a right to branch throughout North America in the event that future financial reforms in the United States permit nationwide banking. (1)
National Treatment. Each country must provide firms from other NAFTA countries no less favorable treatment, including equal competitive opportunities, as it provides domestic firms in similar circumstances. This will mean that U.S. firms in Mexico will have the same business opportunities as their Mexican competitors. (2)
Most-Favored-Nation (MFN) Treatment. No NAFTA country may treat financial firms from another NAFTA country less favorably than it treats similarly situated financial firms from any other country, including non-NAFTA countries. For banks would generally violate the MFN requirement. (3)
http://www.mediamouse.org/cafta/060105bush_comme.php
Notice he never says 'citizens'.
This brings a new meaning to his comments re; guest workers being matched with willing employers. If your foreign employer is not willing to hire citizens of the US, what of the US citizens right to employment in his own country.