NAFTA Overview
Major Provisions of the Trade Agreement
Implemented on January 1, 1994, the North American Free Trade Agreement (NAFTA) is a comprehensive trade agreement that improves virtually all aspects of doing business within North America. NAFTA eliminates nearly all tariffs by 2008 between the United States and Mexico and by 1998 between the United States and Canada, and removes many of the nontariff barriers, such as import licenses, that have helped to exclude U.S. goods from the other two markets, especially Mexico. Customs/Rules of Origin NAFTA only reduces tariffs for goods made in North America. Tough rules of origin determine whether goods qualify for preferential tariff treatment.Chapter…
