North American Free Trade Agreement (NAFTA)

  • It is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America.
  • The agreement came into force on January 1, 1994.
  • It superseded the Canada–United States Free Trade Agreement between the U.S. and Canada.
  • NAFTA has two supplements: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC).
  • The goal of NAFTA was to eliminate barriers to trade and investment between the U.S., Canada and Mexico.
  • NAFTA also sought to eliminate non-tariff trade barriers and to protect the intellectual property rights on traded products.

Don't forget to share this pointer!

View more comments +