NAFTA

(proper noun)

An agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America; as of 2010, the trade bloc was the largest in the world in terms of the combined Gross Domestic Product (GDP) of its members.

Related Terms

(proper noun)

The North American Free Trade Agreement (NAFTA) is an agreement signed by the governments of Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. As of 2010, the trade bloc is the largest in the world In terms of combined GDP of its members.

Related Terms

Examples of NAFTA in the following topics:

  • The George H.W. Bush Administration

    • Bush's administration, along with the Conservative Canadian Prime Minister Brian Mulroney, spearheaded the negotiations of the North American Free Trade Agreement (NAFTA)—which would eliminate the majority of tariffs on products traded among the United States, Canada, and Mexico—to encourage trade among the countries.
    • The American economy has grown 54% since the adoption of NAFTA in 1993, with 25 million new jobs created; this has been seen by some as evidence of NAFTA being beneficial to the U.S.
    • Gutierrez, current United States Secretary of Commerce, wrote, "Quitting NAFTA would send economic shock waves throughout the world, and the damage would start here at home."
    • However, John Sweeney of The Boston Globe argued that "the U.S. trade deficit with Canada and Mexico ballooned to 12 times its pre-NAFTA size, reaching $111 billion in 2004."

  • Clintonomics

    • Clinton also strongly supported ratification of the North American Free Trade Agreement (NAFTA), a treaty that eliminated tariffs and trade restrictions among the United States, Canada, and Mexico.
    • Congress ratified NAFTA late in 1993, and the result was the creation of the world’s largest common market in terms of population, including some 425 million people.

  • The Clinton Administration

    • Clinton supported the North American Free Trade Agreement (NAFTA), which he signed into law in 1994.
    • The three-nation NAFTA had been signed by previous President George H.
    • Clinton did not alter the original agreement; however, he complemented it with the North American Agreement on Environmental Cooperation and the North American Agreement on Labor Cooperation, making NAFTA the first "green" trade treaty and the first trade treaty concerned with each country's labor laws, albeit with very weak sanctions.

  • Clinton's Promise of Change

    • The New Democrats and allies on the Democratic Leadership Conference were responsible for the ratification of the North American Free Trade Agreement (NAFTA).

  • The 1992 Election

    • He addressed some of the public's main concerns at the time, including the federal deficit, professional politicians, and anti-NAFTA (the North American Free Trade Agreement) sentiments.

  • Conclusion: Populism Resurgent

    • Both campaigns appeal to economic protectionism and have criticized free trade deals such as the North American Free Trade Agreement (NAFTA) and the Trans-Pacific Partnership.

  • Globalization and the U.S.

    • Other bilateral and multilateral trade agreements, including sections of Europe's Maastricht Treaty and the North American Free Trade Agreement (NAFTA), have also been signed in pursuit of the goal of reducing tariffs and barriers to trade.