On January 1, 1994, the North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico entered force to create a trilateral trading bloc in North America. NAFTA seeks to liberalize restrictions on trade among the three countries. Some of the agreement's objectives include:
• The elimination of tariff or duty rates (all qualifying products to Canada are now duty-free, and virtually all qualifying products to Mexico are now duty-free).
• Promoting conditions of free competition, and increasing market access and investment opportunities within the free trade area.
Number of Member Countries: 3
Headquarters: Ottawa, Canada; Mexico City, Mexico; Washington D.C., United States
Region(s): North America
Founding Document: Agreement Text
Coverage: Goods & Services
Date Signed: December 17, 1992
Entry Into Force: January 1, 1994
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