NAFTA is signed by U.S. President George H.W. Bush, Mexican President Carlos Salinas, and Canadian Prime Minister Brian Mulroney.
NAFTA takes effect.
At the Miami Summit, the three signatories of NAFTA officially invite Chile to become a contractual party of the agreement.
Canadian Prime Minister Jean Chrétien, U.S. President George W. Bush and Mexican President Vicente Fox agree to establish the North American Energy Working Group (NAEWG) to give regional attention to energy issues and enhance trilateral cooperation. The Group is managed by the three federal Energy secretaries and ministry.
All tariffs between the three countries are eliminated.
Canada, the US, and Mexico are working on renegotiating the agreement in an attempt to redefine their economic relationships. The process involves several rounds of negotiation and is expected to take another year until the agreement is rewritten.