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Terms in this set (7)
What does NAFTA stand for?
North American Free Trade Agreement
When was NAFTA started?
Jan 1, 1994
What was NAFTA's purpose?
Allow free movement of goods and services among the countries, Promote competition in the free trade areas, Protect the property rights of people and businesses in each country, Be able to resolve problems that arise among the countries, Encourage cooperation among countries.
Cons of NAFTA
Increased trade, Boosted U.S. farm exports, Created trade surplus in services, reduced oil and grocery prices
What are some of NAFTA's functions?
One of it's benefits is that it encourages immigration and ensures that labels have Translations in English, French, and Spanish.
What Countries are involved in NAFTA?
U.S., Canada, and Mexico
Pros of NAFTA
Free trade increases sales and profits for Mexico, Canada and the U.S.A., thus strengthening their economies.
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