NORTH AMERICAN FREE TRADE AGREEMENT Definition & Meaning

North American Free Trade Agreement

noun

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

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.

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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.

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Example Sentences

Examples have not been reviewed.

In his first term, Trump negotiated a detailed trade deal, the United States-Mexico-Canada Agreement, that replaced the North American Free Trade Agreement and governed trade practices among the United States and its closest trading partners.

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The passage of the North American Free Trade Agreement in 1994, which laid the groundwork for the current trade pact, changed that.

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It was a revamp of the North American Free Trade Agreement, which was created in 1994.

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In his first term, he threatened to blow up the North American Free Trade Agreement with Mexico and Canada until both countries agreed to modest changes — which the president then trumpeted as a historic success.

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

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