NAFTA meaning in Governmental ?

Answer:

What is North American Free Trade Area mean?

The North American Free Trade Agreement (NAFTA; Spanish: Tratado de Libre Comercio de América del Norte, TLCAN; French: Accord de libre-échange nord-américain, ALÉNA) was an agreement signed by Canada, Mexico, and the United States that created 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 The agreement came into force on January 1, 1994, and superseded the 1988 Canada–United States Free Trade Agreement between the United States and Canada. The NAFTA trade bloc formed one of the largest trade blocs in the world by gross domestic product.

The impetus for a North American free trade zone began with U.S. president Ronald Reagan, who made the idea part of his 1980 presidential campaign. After the signing of the Canada–United States Free Trade Agreement in 1988, the administrations of U.S. president George H. W. Bush, Mexican President Carlos Salinas de Gortari, and Canadian prime minister Brian Mulroney agreed to negotiate what became NAFTA. Each submitted the agreement for ratification in their respective capitals in December 1992, but NAFTA faced significant opposition in both the United States and Canada. All three countries ratified NAFTA in 1993 after the addition of two side agreements, the North American Agreement on Labor Cooperation (NAALC) and the North American Agreement on Environmental Cooperation (NAAEC).

Passage of NAFTA resulted in the elimination or reduction of barriers to trade and investment between the U.S., Canada, and Mexico. The effects of the agreement regarding issues such as employment, the environment, and economic growth have been the subject of political disputes. Most economic analyses indicated that NAFTA was beneficial to the North American economies and the average citizen, but harmed a small minority of workers in industries exposed to trade competition. Economists held that withdrawing from NAFTA or renegotiating NAFTA in a way that reestablished trade barriers would have adversely affected the U.S. economy and cost jobs. However, Mexico would have been much more severely affected by job loss and reduction of economic growth in both the short term and long term.

After U.S. President Donald Trump took office in January 2017, he sought to replace NAFTA with a new agreement, beginning negotiations with Canada and Mexico. In September 2018, the United States, Mexico, and Canada reached an agreement to replace NAFTA with the United States–Mexico–Canada Agreement (USMCA), and all three countries had ratified it by March 2020. NAFTA remained in force until USMCA was implemented. In April 2020, Canada and Mexico notified the U.S. that they were ready to implement the agreement. The USMCA took effect on July 1, 2020, replacing NAFTA. The new law involved only small changes.

reference

Full Form	Category
North American Future Teachers Association	Academic & Science
North African Federated Trade Association	Business
North Atlantic Free Trade Association	Business
New Zealand and Australia Free Trade Agreement	Business
North American Federal Tariff Association	Community
North American Free Trade Agreement	Computer and Networking
Narcotics-Addicted Free Trade Agreement	General
Never Attack Fighting Tigers Again	General
North American Frog Throwing Act	General
Not Actually Fabricated Totally American	General
No American Factories Taking Applications	General
Nothing Again For The American	General
No American Farm Trade Anymore	General
Not An Fing Thing For America	General
No Advantage For The Americans	General
Northern Annexation For Totaliarnist Americans	General
North American Frequent Tariffs Agreement	General
Not A Friend To Americans	General
North American Free Trade Of Agreement	General
North American Free Tree Agreement	General
North African Free Trade Act	General
No American Factories Taking Appliscations	General
Naftanorth American Free Trade Agreement	General
North America For Turtles and Anteaters	General
Nullified Artisans Federation of Trecherous Adults	General
Nothing Affects Former Teaching Acts	General
North America Free Trade Agreement	General
North Atlantic Free Trade Area	General
North American Free Trade Area	Governmental
North American Free Trade Act	Governmental
Βορειοαερικανική Ζώνη Ελευθέρου Επορίου	International
North African Freedom To Assemble	Regional