NAFTA - nature; the terms apply equally to all countries,...

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Jon Patty Government April 9, 2008 NAFTA NAFTA stands for the North American Free Trade Agreement. NAFTA eliminated the majority of tariffs on products traded among the United States, Canada, and Mexico, and gradually phased out other tariffs over a 15-year period. Restrictions were to be removed from many categories, including motor vehicles, computers, textiles, and agriculture. The treaty also protects intellectual property rights (patents, copyrights, and trademarks), and outlines the removal of investment restrictions among the three countries. The treaty is trilateral in
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Unformatted text preview: nature; the terms apply equally to all countries, in all areas except agriculture, in which stipulations, tariff reduction phase-out periods, and protection of selected industries, were negotiated on a bilateral basis. Provisions regarding worker and environmental protection were added later as a result of supplemental agreements signed in 1992. NAFTA was an expansion of the earlier Canada-U.S. Free Trade Agreement of 1988. It is a treaty under international law, though under United States law, it is classed as a congressional-executive agreement rather than a treaty....
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This note was uploaded on 04/24/2008 for the course GOVERNMENT 1301 taught by Professor Ritchey during the Spring '08 term at Cisco Junior College.

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