Definition, Meaning & Synonyms
NAFTA
Noun
/ˈnæf.tə/
Definition
NAFTA stands for the North American Free Trade Agreement, a trade deal between the United States, Canada, and Mexico.
Examples
- NAFTA was implemented in 1994 to promote trade between North America.
- Many businesses have benefited from the tariff reductions established by NAFTA.
- The implications of NAFTA have shaped economic policies in all three participating countries.
Meaning
The agreement aims to reduce trade barriers and increase economic cooperation among the three countries.
Synonyms
- Free trade agreement
- Trade pact
- Trade agreement
