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The North American Free Trade Agreement(NAFTA)NAFTA is a 1994 agreement to removes taxes on products traded between North Americancountries (US, Canada and Mexico).Key PointsNAFTA protects copyright, patentsand trademarksbetween the three countries. It wasupdated with the North American Agreement on Environmental Cooperation, whichhelped reduce pollution and set more environmental regulations.Since NAFTA took away taxes between productstraded between the US, Canada andMexico, Mexico has been buying more products from the US.Some say NAFTA has been positive for Mexico, which has seen poverty rates fall andreal income rise, while others argue that NAFTA has had negative impacts on farmersinMexico who saw food pricesfall based on cheap imports from the US.TermsMexican factories that take in imported raw mateirals and produce goods for export.Foreign direct investmentdirect investment into production in one country by a company in another country, eitherby buying a company in the target country or by expanding operations of an existingbusiness in that country.
NAFTA The North American Free TradeAgreement (NAFTA) is an agreement between Mexico, theUnited States and Canada. The agreement was signed by US President George H.W. Bush,Canadian Prime Minister Brian Mulroney, and Mexican President Carlos Salinas on December17, 1992 in San Antonio, Texas, and took effect on January 1, 1994.