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 called for the gradual elimination of most remaining barriers to cross-border investment and to the movement of goods and services among the three countries; its provisions as a result were not fully in effect until Jan. 1, 2008. 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. The agreement was a significant issue in the U.S. elections of 1992, in which third-party presidential candidate and NAFTA opponent Ross PerotPerot, H. Ross
(Henry Ross Perot), 1930–, American business executive and political leader, b. Texarkana, Tex., grad. Annapolis, 1953. In 1957 he resigned his commission and became a salesman for IBM.
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 won 19% of the vote, and 2016, during and following which successful Republican presidential candidate Donald TrumpTrump, Donald John,
1946–, 45th president of the United States (2017–), b. New York City. Prior to his election as president in 2016, he was a business executive and television personality rather than a political leader. After attending Fordham Univ.
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 called for its renegotiation or abandonment. In 2018 the Trump administration negotiated agreements with Mexico and Canada that would modify some aspects of NAFTA, which was to be renamed the United States Mexico Canada Agreement.

References in periodicals archive ?
The North American Free Trade Agreement is an alliance between the United States, Canada, and Mexico that makes free trade between the countries easier.
It would build on the North American Free Trade Agreement (NAFTA), "broadening" its regulatory and enforcement powers while "deepening" the economic and political relationships among the three signatory nations.
It expresses support for the rule of law as it pertains to the North American Free Trade Agreement (NAFTA) and says both countries should implement the decisions of the NAFTA panel.
Mexico is in a key position to help its neighbors understand and develop trade accords, given its standing as a member of the North American Free Trade Agreement (NAFTA), the trade pact between Canada, the United States and Mexico.
Congress passed the North American Free Trade Agreement, which became the law of the land in Canada, Mexico, and the United States on January 1, 1994.
senior corporate executives, the North American Free Trade Agreement (NAFTA) was not likely to touch off a mass migration of U.
Now that the dust has settled, most Americans are scratching their heads and wondering what the North American Free Trade Agreement (NAFTA) will actually mean.
The processes at work in the North American Free Trade Agreement are the same ones that have driven economic deconcentration from cities and regions in the United States, and they are equally influenced by conscious public policy.
How does the North American Free Trade Agreement (NAFTA) affect the American metalcasting industry?

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