North American Free Trade Agreement
noun
an international trade agreement between the United States, Canada, and Mexico
Abbreviation: NAFTA
Cultural definitions for north american free trade agreement
North American Free Trade Agreement
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 for North American Free Trade Agreement
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.