North American Free Trade Agreement (NAFTA): A multilateral agreement negotiated by the United States, Canada and Mexico that sets forth agreements to lower and/or eliminate unfair trade barriers that affect the trade of goods and services between the three countries. NAFTA entered into force on January 1, 1994. The agriculture portion of NAFTA effectively is three bilateral agreements: U.S./Mexico, Mexico/Canada, and U.S./Canada. The U.S.-Canada agricultural agreement in NAFTA was negotiated previously as part of the U.S.-Canada Free Trade Agreement.

 

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North American Free Trade Agreement (NAFTA): A multilateral agreement negotiated by the United States, Canada and Mexico that sets forth agreements to lower and/or eliminate unfair trade barriers that affect the trade of goods and serv . . . View Full Definition

Free Trade Area: A group of countries that have removed trade barriers among the members, but each country may maintain its own trade regime with nonmember countries. The best known current example is the No . . . View Full Definition

Trade Adjustment Assistance: Assistance provided by the Departments of Labor and Commerce to workers and firms that are adversely affected by increased imports. The Labor Department administers a program offering certif . . . View Full Definition

North American Free Trade Agreement Implementation Act: P.L. 103-182 (December 8, 1993) approved and implemented the North American Free Trade Agreement (NAFTA). NAFTA pertains to cross-border trade between the United States, Mexico, and Canada. . . . View Full Definition