North American Free Trade Agreement
noun
an international trade agreement between the United States, Canada, and Mexico: Abbreviation: NAFTA
Words Nearby North American Free Trade Agreement
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012
Cultural definitions for North American Free Trade Agreement
North American Free Trade Agreement
An agreement between the United States, Canada, and Mexico to establish free trade. It took effect in 1994 and is designed to eliminate trade barriers between the three nations by 2009.
Notes for North American Free Trade Agreement
Many American labor unions oppose NAFTA on the grounds that it takes away jobs from American workers as manufacturers relocate in Mexico to take advantage of cheaper labor. Others argue that free trade creates more jobs in the United States than it destroys.
The New Dictionary of Cultural Literacy, Third Edition Copyright © 2005 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
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