North American Free Trade Agreement

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North American Free Trade Agreement

(NAFTA), accord establishing a free-trade zone in North America; it was signed in 1992 by Canada, Mexico, and the United States and took effect on Jan. 1, 1994. NAFTA immediately lifted tariffs on the majority of goods produced by the signatory nations. It also calls for the gradual elimination, over a period of 15 years, of most remaining barriers to cross-border investment and to the movement of goods and services among the three countries. Major industries affected include agriculture, automobile and textile manufacture, telecommunications, financial services, energy, and trucking. NAFTA also provides for labor and environmental cooperation among member countries. The pact contains provisions for the inclusion of additional member nations. Labor representatives have criticized NAFTA, claiming the agreement has led to numerous jobs lost in the United States because industries have moved plants to Mexico (see maquiladorasmaquiladoras
, Mexican assembly plants that manufacture finished goods for export to the United States. The maquiladoras are generally owned by non-Mexican corporations.
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); NAFTA proponents point to the U.S. jobs created because of increased imports by Mexico and Canada. The agreement has negatively affected the economies of several Caribbean countries whose exports to the United States now compete with duty-free Mexican exports.
References in periodicals archive ?
CAFTA is essentially a sequel to the generally successful North America Free Trade Agreement, which brought together the U.
The work also contains a useful compendium of organizations, agreements and trade balances, as well as an evaluation of the first seven years of the North America Free Trade Agreement.
FG holds the leading market position in Mexico and one of the three major auto glass producers in the North America Free Trade Agreement (NAFTA) region.
After being mired in political debate for years, approval of the three FTAs is the most significant trade action since the North America Free Trade Agreement (NAFTA) in 1994.
Ross says that the expropriation violates the North America Free Trade Agreement.
We are working with the citizens of the Pan American community to expand economic opportunity through debt relief and to encourage reforms through such mechanisms as the North America Free Trade Agreement, the Chile Free Trade Agreement, and the Dominican Republic-Central America-United States Free Trade Agreement.
The projected 2005 expansion, which mirrors Laredo's growth in 2004, indicates that the South Texas city's explosive growth since the North America Free Trade Agreement took effect in 1995 continues unabated.
David Emerson, President & Chief Executive Officer of Canfor Corporation will be available today at 11:00 am (Pacific Standard Time) to answer questions related to the Notice of Intent by Canfor Corporation to file for damages against the US Government under the North America Free Trade Agreement.

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