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North American Free Trade Agreement
Columbia Encyclopedia entry: North American Free Trade Agreement
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 maquiladoras); 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.
Wikipedia search results for: North American Free Trade Agreement
From Wikipedia, the free encyclopedia
The North American Free Trade Agreement or NAFTA is an agreement signed by the governments of the United States, Canada, and Mexico 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 It superseded the Canada-United States Free Trade Agreement between the U.S. and Canada. In terms of combined purchasing power parity GDP of its members, the trade block is the largest in the world and second largest by nominal GDP comparison. The North American Free Trade Agreement has two supplements, the North American Agreement on Environmental Cooperation and the North American Agreement on Labor...more »
Columbia Encyclopedia search results: North American Free Trade Agreement
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  • free trade

    Free trade, in modern usage, trade or commerce carried on without such restrictions as import duties, export bounties, domestic production subsidies, trade quotas, or import licenses. The basi...

  • trade

    Trade, traffic in goods. Conducted by gift, barter, or sale, trade is one of the most widespread of all social institutions. The discovery of nonlocal objects at many archaeological sites stro...

  • balance of trade

    Balance of trade, relation between the merchandise exports and imports of a country. The concept first became important in the 16th and 17th cent. with the growth of mercantilism. Mercantilist...

  • North Dakota

    North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewa...

  • Mulroney, Brian

    Mulroney, Brian (Martin Brian Mulroney), 1939–, Canadian prime minister (1984–93). Raised in Quebec in a working class family, Mulroney was a successful bilingual lawyer who became active in p...

  • Mexico, country, North America

    Mexico, Span. México or Méjico, officially United Mexican States, republic (2005 est. pop. 106,203,000), 753,665 sq mi (1,952,500 sq km), S North America. It borders on the United States in th...

  • North Carolina

    North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Area, 52,586 sq mi (136,198 sq km). Po...

  • Bentsen, Lloyd Millard, Jr.

    Bentsen, Lloyd Millard, Jr., 1921–2006, American political leader and U.S. secretary of the treasury (1993–94), b. Mission, Tex. He received a law degree from the Univ. of Texas in 1942 and se...

  • North West Company

    North West Company, fur-trading organization in North America in the late 18th and early 19th cent.; it was composed of Montreal trading firms and fur traders. After the conquest of Canada by ...

  • Salinas de Gortari, Carlos

    Salinas de Gortari, Carlos, 1948–, president of Mexico (1988–94). A Harvard-educated political economist, he became minister of planning and the budget (1982–87) and succeeded Miguel de la Mad...

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