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单词 North American Free Trade Agreement
释义
North American Free Trade Agreement

Geography
  • A free trade area, established between Canada and the USA in 1989, Mexico joining in 1993. NAFTA aims to remove import tariffs and quotas on most raw materials and manufactured goods, and restrictions on trans-border financial services. The agreement also has proposals on health, pollution, and the use of renewable resources. The North American Free Trade Agreement is the most comprehensive free trade pact (short of a common market) ever negotiated between regional trading partners, and the first reciprocal free trade pact between a developing country and industrial countries (G. C. Hufbauer and J. Schott 1993).

    Koring (2004, www.Vigile.net) writes that ‘the risk is that the trilateral relationship is being further eclipsed by the two bilateral relationships. Even though Canada–Mexico ties and trade have grown over the past 20 years, they remain inconsequential compared to Canada–U.S. relations and the relationship between the United States and Mexico, which is evolving even more rapidly’.


Economics
  • An agreement reached in 1993 between Canada, Mexico, and the United States making the three countries a free-trade area.


World History
  • An economic pact permitting free trade between the USA, Canada, and Mexico. NAFTA extends a free trade agreement made between the USA and Canada in 1988. The treaty was signed in 1992, ratified in 1993, and took effect in 1994. It provides for the complete removal on all trade tariffs between the member countries, with tariffs on agricultural products to be phased out. Chile applied to join and in 1994 negotiations over its admittance began.


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