- 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.
NAFTA definition by Webster's New World
Webster's New World College Dictionary Copyright © 2010 by Wiley Publishing, Inc., Cleveland, Ohio. Used by arrangement with John Wiley & Sons, Inc.
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: N(orth) A(merican) F(ree) T(rade) A(greement)
NAFTA definition by American Heritage Dictionary
The American Heritage® Dictionary of the English Language, 4th edition Copyright © 2010 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.
North American Free Trade Agreement