North American Free Trade Agreement (NAFTA)
A trade agreement between Canada, the United States and Mexico that encourages free trade between these North American countries. Investopedia Says:
The agreement, implemented on January 1, 1994, is based on the premise that removing as many tariffs as possible between these North American countries will increase trade within the region and benefit each country's economy. Related Terms:
Balance Of Trade
Dumping
Export
General Agreement on Tariffs and Trade - GATT
Globalization
Import
North American Industry Classification System - NAICS
Tariff
Tequila Effect
World Trade Organization - WTO |