NAFTA is defined as the North American Free Trade Agreement which allows for the elimination of import quotas and tariffs between the United States, Canada and Mexico.
An example of NAFTA is the agreement that came into being on January 1, 1994 to stimulate trade and investment between the U.S. Canada and Mexico.
a 1994 agreement made by the U.S., Canada, and Mexico for the gradual elimination of tariffs and import quotas so as to remove barriers to free trade among those countries
Origin of NAFTAN(orth) A(merican) F(ree) T(rade) A(greement)
North American Free Trade Agreement
- North American Free Trade Agreement