NAFTA

From WikiMD's Wellnesspedia

NAFTA (North American Free Trade Agreement) 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 The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement.

History[edit | edit source]

The NAFTA agreement was signed by Canadian Prime Minister Brian Mulroney, Mexican President Carlos Salinas, and U.S. President George H. W. Bush on December 17, 1992, and entered into force on January 1, 1994. It was later updated by the USMCA (United States–Mexico–Canada Agreement) in 2020.

Provisions[edit | edit source]

NAFTA has two supplements: the North American Agreement on Environmental Cooperation (NAAEC) and the North American Agreement on Labor Cooperation (NAALC). It introduced a number of tariff reductions, as well as comprehensive rules on trade, investment, intellectual property, dispute settlement, and other trade-related issues.

Impact[edit | edit source]

The impact of NAFTA on the economies of the member countries is a subject of ongoing debate. Some studies indicate that NAFTA has been beneficial to the North American economies and the average citizen, but has been detrimental to a small subset of workers in industries exposed to trade competition.

Criticism[edit | edit source]

NAFTA has been criticized for its impact on workers, the environment, and national sovereignty. Critics argue that it has led to job losses and wage stagnation in the United States, driven by low-wage competition, companies moving production to Mexico to lower costs, and a widening trade deficit.

See also[edit | edit source]


NAFTA Resources

Find a healthcare provider anywhere in the world quickly and easily!

Wiki.png

Navigation: Wellness - Encyclopedia - Health topics - Disease Index‏‎ - Drugs - World Directory - Gray's Anatomy - Keto diet - Recipes

Search WikiMD


Ad.Tired of being Overweight? Try W8MD's physician weight loss program.
Semaglutide (Ozempic / Wegovy and Tirzepatide (Mounjaro) available.
Advertise on WikiMD

WikiMD is not a substitute for professional medical advice. See full disclaimer.

Credits:Most images are courtesy of Wikimedia commons, and templates Wikipedia, licensed under CC BY SA or similar.


Contributors: Admin, Prab R. Tumpati, MD