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'''NAFTA''', or the '''N'''orth '''A'''merican '''F'''ree '''T'''rade '''A'''greement, is a controversial trade pact signed by the [[United States]], [[Mexico]] and [[Canada]] in 1992. This pact came into effect in 1994, making it the world's biggest free-trade area. It required the elimination of every trade barrier between the signers for fifteen years. It also included agreements on the environment and labor. This gave Canadian and U.S. companies access to [[Mexican]] markets.
'''NAFTA''', or the '''N'''orth '''A'''merican '''F'''ree '''T'''rade '''A'''greement is a free trade pact among the [[United States]], [[Mexico]] and [[Canada]]; it began in 1994 and continues to the present. It created the world's biggest free-trade area and required the elimination of every trade barrier between the signers for fifteen years. It also included agreements on the environment and labor. This gave Canadian and U.S. companies access to [[Mexican]] markets.
The pact was originally negotiated by President [[George H. W. Bush]] but was made into law by President [[Bill Clinton]], despite some opposition from his own party.<ref>http://www.vancol.com/history-of-nafta.cfm</ref>
==Passage==
The pact was originally negotiated by President [[George H. W. Bush]] but was made into law by President [[Bill Clinton]], who overcame strong opposition from liberals, environmentalists and labotr unions and whorked with Republicans to pass the legislation. <ref>http://www.vancol.com/history-of-nafta.cfm</ref> NAFTA followed the Free Trade Agreement (FTA) of 1989 between the U.S. and Canada.
==Impact==
NAFTA) marked a major change in US-Mexico relations in the post-Cold War era and showed an important tendency in economic globalization. By establishing a relationship of economic cooperation and collaboration and practicing economic liberalization and integration, the United States, Canada, and Mexico all benefited. Furthermore, NAFTA propelled reform of the political system in Mexico and created a chance for Mexico to open up to the world and establish a foreign-oriented economy.
==References==
==References==
[[Category:Economics]]
[[Category:Economics]]
[[Category:Free trade]]
[[Category:Free trade]]
[[Category:Reagan Era]]