NAFTA
Trinational tariff elimination
NAFTA is the North American Free Trade Agreement, a 1994 treaty that eliminated most tariffs between the United States, Canada, and Mexico.
The agreement became a touchstone in debates about globalization, job losses, and trade policy: NAFTA sent manufacturing jobs overseas.
It was replaced by the USMCA in 2020 but remains a reference point in economic discussions. (Lowercase nafta is a variant spelling of naphtha.)
North American southern nation
- CanadaNorthern North American nation
- United StatesNorth American federal republic
- bilateralInvolving two parties
- sovereigntySupreme independent authority
Revising agreed terms
- ratificationFormal approval by authority
- dispute resolutionSettling conflicts formally
- Chapter 11Business debt reorganization process
- sunset clauseAutomatic termination provision in law
National output abbreviation
- manufacturingIndustrial product creation
- outsourcingThird-party task delegation
- supply chainProduct delivery infrastructure
- investmentDeploying capital for returns
labor · jobs · industry · automotive · agriculture · deregulation · liberalization · competitiveness
Mexico
North American southern nation
- CanadaNorthern North American nation
- United StatesNorth American federal republic
- bilateralInvolving two parties
sovereignty · borders · integration · continental · Western Hemisphere
renegotiation
Revising agreed terms
- ratificationFormal approval by authority
- dispute resolutionSettling conflicts formally
- Chapter 11Business debt reorganization process
GDP
National output abbreviation
- manufacturingIndustrial product creation
- outsourcingThird-party task delegation
- supply chainProduct delivery infrastructure
investment · labor · jobs · industry · automotive · agriculture · deregulation · liberalization · competitiveness
- Latin America PolicyMonroe Doctrine, USMCA, Pan-Americanism, gunboat diplomacy, Bay of Pigs
- Latin American DiplomacyPan-Americanism, Monroe Doctrine, USMCA, Cuba embargo
- Regional BlocsEU, European Union, ASEAN, African Union, USMCA
- U.S. LawsCivil Rights Act, Americans with Disabilities Act, Clean Air Act, Clean Water Act, HIPAA
- US TreatiesTreaty of Paris, Treaty of Ghent, Louisiana Purchase, USMCA, Treaty of Greenville
- American TreatiesUSMCA
NAFTAprotectionism
Shielding local producers
trade barriers · tariffs · trade war · economic sanctions · import quotas
NAFTAautarky
Complete economic independence
self-sufficiency · economic nationalism · import substitution · deglobalization · Brexit