North American Free Trade Agreement (NAFTA)

 
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North American Free Trade Agreement (NAFTA)

NAFTA is a type of rule executed January 1, 1994, simultaneously in Mexico, Canada, and the United States, that eradicates most tariffs on trade among these nations. NAFTA’s idea is to motivate economic activity among the three main economic powers of North America. It is also a trade agreement among the U.S., Canada, and Mexico including duty-free entry and other benefits for goods that qualify.

This entry was posted in dictionary on November 1, 2017 by Tanushka.