NAFTA

NAFTA, or the New America Free Trade Association, is a controversial trade pact signed by the U.S., 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.

The pact was originally negotiated by President George Bush but was made into law by President Bill Clinton, despite opposition from his own party.

The acronym can also stand for New Aberdonian Final Trophy Award, a prize presented to the resident of Aberdeen deemed the greatest haggis killer for that calendar year. Past winners include Annie Lennox, Adam Smith, Jose Mourhino and Tam "Seven Fingers" McSporran.