NAFTA2019-05-14T20:09:29+00:00

NAFTA

The North American Free Trade Agreement (NAFTA) is an agreement signed by Canada, Mexico, and the United States, creating a trilateral trade bloc in North America. The agreement came into force on January 1, 1994. It superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada, and is expected to be replaced by the United States–Mexico–Canada Agreement once it is ratified.

In July 2017, the Trump administration provided a detailed list of changes that it would like to see to NAFTA. The top priority was a reduction in the United States’ trade deficit. The administration also called for the elimination of provisions that allowed Canada and Mexico to appeal duties imposed by the United States and limited the ability of the United States to impose import restrictions on Canada and Mexico. The list also alleged subsidized state-owned enterprises and currency manipulation. Trump was successful in totally renegotiate the trade agreement terms between Mexico and Canada that greatly improved the U.S.’s economic position.