North American Free Trade Agreement - NAFTA

North American Free Trade Agreement - NAFTA

A trade agreement between Canada, the United States and Mexico that encourages free trade between these North American countries.

Notes:

The agreement, implemented on January 1, 1994, is based on the premise that removing as many tariffs as possible between these North American countries will increase trade within the region and benefit each country's economy.

See also: Balance of Trade, Dumping, Export, GATT, Globalization, Import, Quota, Tariff, WTO