a 1994 agreement made by the U.S., Canada, and Mexico for the gradual elimination of tariffs and import quotas so as to remove barriers to free trade among those countries
Word origin
N(orth) A(merican) F(ree) T(rade) A(greement)
NAFTA in Finance
(næftə) or North American Free Trade Agreement
abbreviation
(Finance: Economics)
NAFTA is an agreement between the US, Canada, and Mexico that allows them to trade with each other without paying import taxes.
Since it came into force, NAFTA has benefited all three economies, raising cross-border trade and investment.
NAFTA created an established order in the new relationship with America and Canada, witha specific timetable for the opening of most key industries.
NAFTA is an agreement between the US, Canada, and Mexico that allows them to trade witheach other without paying import taxes.