North American Free Trade Agreement

noun

1. an international trade agreement between the United States, Canada, and Mexico NAFTA

North American Free Trade Agreement

1. An agreement between the United States, Canada, and Mexico to establish free trade. It took effect in 1994 and is designed to eliminate trade barriers between the three nations by 2009.

Notes

Many American labor unions oppose NAFTA on the grounds that it takes away jobs from American workers as manufacturers relocate in Mexico to take advantage of cheaper labor. Others argue that free trade creates more jobs in the United States than it destroys.

Example Sentences

As president, Trump renegotiated the North American Free Trade Agreement, which helped elevate Mexico to become the United States’ top trading partner.

From Los Angeles Times

The agreement later included Mexico in 1994, evolving into the North American Free Trade Agreement.

From Seattle Times

The USMCA, a product of former President Donald Trump’s efforts to renegotiate the North American Free Trade Agreement, involved ensuring increased access to Canadian markets for U.S. dairy exports.

From Seattle Times

That started to change in the 1990s after the North American Free Trade Agreement was signed, eliminating U.S. duties on products from neighboring countries, and large multinational companies started to move garment production to Mexico.

From New York Times

The meeting is required under the rules of the USMCA, which replaced the North American Free Trade Agreement in 2020, for the trading partners to discuss issues related to the trade pact.

From Reuters