Difference between revisions of "NAFTA"
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| − | NAFTA, or the North America Free Trade Agreement, is a trade pact signed by the U.S., Mexico and Canada in 1992. This pact came into effect in 1994, making it the | + | NAFTA, or the North America Free Trade Agreement, is a 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. |
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| + | The pact was originally negotiated by President George Bush but was made into law by President Bill Clinton, despite opposition from his own party. | ||
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Revision as of 11:22, March 15, 2007
NAFTA, or the North America Free Trade Agreement, is a 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.
