Economics Trade Barriers Questions
The North American Free Trade Agreement (NAFTA) is a trade agreement signed in 1994 between the United States, Canada, and Mexico. It aims to eliminate trade barriers and promote economic integration among the three countries. NAFTA allows for the free movement of goods, services, and investments across the borders, reducing tariffs and other trade restrictions. It also includes provisions for intellectual property rights protection, dispute resolution mechanisms, and labor and environmental standards. NAFTA has had a significant impact on the economies of the member countries, increasing trade volumes and foreign direct investment. However, it has also faced criticism for its effects on jobs, wages, and the environment.